Free Stock, Commodity, Forex Trading Tips & Education Articles

FOMC Minutes: A confirmation for an explosive rally in XAUUSD

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free commodity gold chart tips

Gold has started collapsing nonstop after Nonfarm Payrolls data. And it stopped at my ‘tested many times’ level. XAUUSD has recovered 50% almost in the previous week. The gold spot needs to break the 1793.6 level to start an uptrend. Afterward, it will go for 1806 – 1826 levels. And these levels can push the gold price up to 1900. But if gold breaks the strong support again, it will start falling. This time, it won’t stop! Hence, the short-term traders can start selling from there for the targets of 1744 – 1726 – 1684.

MCX Gold Will Have An Explosive Rally This Wednesday

MCX traders should keep their eyes on the 46720 levels. It’s a trend changer. As per XAUUSD, Indian MCX Gold can raise 47500 – 48260 after a breakout of $1793.6. And if it breaks the strong support of Gold Spot, it will keep falling for targets of 46260 – 45860. For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil. Especially, don’t forget to watch this Wednesday’s events to find out gold upcoming actions.Continue reading

Part 2: Silver will touch 69200 levels again?

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free commodity silver daily chart tips

Key level: 62110 On 6 June 2021, I had drawn a chart of silver (URL: https://moneymunch.com/mcx-silver-touch-69200-this-week-tips/). Wherein, I’ve shown the silver can collapse up to 0.618. It has made a low of 62184 and touched 0.618 levels of retracement. If MCX silver crossover and close below the level of 62110, it will try to hit 60000 – 58900 – 57260 levels. Otherwise, it will take a bounce back from here and come back to the 65800 – 69200 levels. Continue reading

Will MCX Crude oil Come Back to 5500?

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free commodity crudeoil 4h chart

Crude oil has broken March 2020 support trendline today. That is indicating a direct sell signal. If crude crossover & closes above to 5160 levels, then it can come out from the downtrend. And we may see 5300 – 5500 again.

According to the current breakout, MCX crude oil may hit the following levels: 4800 – 4760 – 4660 – 4590

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Gold will come back to the $1800 level?

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free commodity gold (xauusd) signals

On 16 July, gold has crashed over $60 during the FOMC event. At that time, Commodity Futures Trading Commission (CFTC) data was highlighting selling pressure.

Golds Commodity Futures Trading Commission (CFTC) data

And on 27 July, CFTC data was said OI (Open Interest) of a gold future contract is 500,187 and total shorts 481,533 & buys 452,107. But, gold prices increased.

We have to notice that the bullish rally wasn’t powerful compare to the 16 July data. And selling pressure has higher compare to buyers. Hence, gold has moved bearish side in the last trading session.

If gold wants to move upside, then it has to crossover my strong resistance. That will lead the gold’s prices above 1840 – 1860 – 1882 – 1900.

But if you focus fundamentally & CFTC data, XAUUSD will keep falling and touch the following targets: 1800 – 1793.6 – 1783.6 – 1763.6. Gold is making double top formation also.

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Part 2: What Drives Gold (XAUUSD) Prices?

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free commodity xauusd gold spot daily chart tips

Previous Article:
XAUUSD (Gold Spot) & MCX Gold Will Skyrocket?

What’s Next:
Key levels: 1793.6 and 1783.6
According to my previous newsletter, my gold key levels will remain the same. It’s not sellable until breakout the 1766 (strong support).

In XAUUSD, buying pressures are increasing. We may see 1812 – 1824 – 1836+ levels.

Alternatively, gold is taking a reversal from the first key level, so its upside rally may be weak. But, day traders can play between my range. And stop buying when it breaks the first key level. That could drag down the gold price directly at the second key level (1783.6).

And gold’s closing price below 1783.6 means blast. It may hit the strong support level directly.

Please note, don’t forget to watch significant releases or events mentioned above in the chart that may affect the movement of gold, silver, and crude oil.

Continue reading

USD/JPY May Continue Decline

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free forex usdjpy signals chart USD/JPY has made a high of 111.66 and took a U-turn. Its impulsive wave breaks at support trendline breakout. It can keep falling from the dynamic resistance trendline (DRT). We may see 109.54 – 109.15 – 107.48 soon. Don’t sell after a breakout of DRT or 110.7 level. And do not forget to watch significant releases or events mentioned on the above chart that may affect the movement of USD/JPY.Continue reading