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The long-term outlook of MCX Copper
Look at the above weekly chart of MCX Copper. It has created an ascending channel pattern without breakout. This channel started in the previous year’s April month. At present, it’s falling after making a tail. But how much it can go down? Copper may fall more from here, and that can be up to 728 – 710.6 levels.
But overall, it’s on an uptrend. So, soon it will start marching for the following levels:
760 – 780 – 800 – 820 – 840+
Silver will touch 69200 levels this week?
Is it a good time to take a long position in silver?
According to the previous data, it has breaks 2021’s support trendline. But the price has bounced off from the 200 moving average. And it’s not crossing the 0.886 value of retracement. Hence, at the present silver trading range is between 73222 – 69076 levels.
This week silver may collapse up to 0.786 ( TP: 70660 – 70000 – 69200 ). And hurdle is 73222 level…
MCX Crude oil: Ascending Triangle Pattern (TP 5112)
Crude oil is forming an Ascending Triangle Pattern. According to the monthly chart and chart pattern analysis, the crude oil rally will not stop here. It will keep moving forward for levels of 5160 – 5300 – 5600+.
MCX crude oil target for intraday traders is 5112 level.
Gold: Descending Channel Pattern with Breakout at Upside
MCX gold will keep moving further advance up to the targets of 50000 – 51000 levels. But after the first target, gold will try to take a reversal for 0.382 to 0.236 levels of retracement.
Long-term Targets: 51575 – 52492+
MCX Mentha oil – Ascending Triangle Pattern Formation
Mentha oil can try to collapse up to the support line before hitting the following targets: 986 – 1000 – 1020
Attention: don’t buy below the support trendline.
This MCX Mentha oil research is based on the Feb 24 article.
Click the below link to read it: MCX Mentha Oil Overall Outlook Is ‘Strongly Bullish’
Trade-Setups on Maruti Short Target 6639 and 6483
Two terms are important to understand for this Sample.
- Extended Wave – The biggest wave of three impulsive waves (W1, W3, or W5) for the motive phase. In this, we expect gaps, surged, sharp moves in it.
- Difference between points – A wave has two points, the starting and ending point. The distance between them is the difference between those points. For example, Wave 1 traveled from Rs. 30 points to Rs. 45 point. As a result, the difference between 45- 30 points is “15”.
The formula that we will use to find the 5th wave:
Difference of, 5th Wave = 3rd wave Extended – 1st Wave Read more
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Cotton view?
Fib. Retracement Swing High: 56191 Swing Low: 44108
what's fibonacci 0 & 100 levels?
HUM SILVERM ME TRADE KARTE HE. PLS CALL ME
very perfect call. very good sirji