This is MCX Silver mini 15 minutes chart. I have used here moving average, Fibonacci, DMI, and RSI.
Fib Levels: T 71496 and B 65664
Silver will try to touch 0.382 (67892) from here. It will act as resistance. Moreover, there is a 50 MA. If silver breaks both, it will fly from there and touch, 68580 levels. Intraday traders can play between it.
But if it takes a U-turn from 50 MA and breaks the 20 EMA, be ready for the following targets: 67060 – 66600.
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The “Bat pattern” incorporates the 0.886XA retracement, as the defining element in the Potential Reversal. The B point retracement a 0.50 of the XA leg. The Bat utilizes a minimum 1.618BC projection, which is already done. In addition, Bat pattern is extended to a 1.618 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
By keeping stop-loss as 13747 sell NIFTY, TARGET can be 13536 2nd targets 13403 or still down.
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According to the daily chart of MCX crude oil, it is further advance for short-term investors. The retracement level of 0.618 is a perfect entry-level.
As per RSI & MA, it seems bullish . We will see soon target 1 and target 2 price after a short reversal.
But if you want to see a clear trend, we’d see it in a 4 hours chart:
According to the 4H chart of MCX crude oil, it’s sharply moving upward. It’s safe for intraday & short-term traders to take a position nearby the support trendline or 50 MA for the targets of 3600 – 3660 – 3700 – 3800.
But what if it breaks the support trendline? DMI is indicating collapse ahead. How much crude oil can come down after breaking out the support trendline? To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
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According to this chart, gold has started falling from August month. Doji appearing in the last trading session. It’s signaling a possible reversal. If gold follows the dynamic resistance, we may see a continuous downtrend. That can be up to 0.5 (47300) to 0.618 (45200) of Fib retracement.
Here’s ADX less than 25, and +DI is above the -DI . Additionally, 200 MA & 50 MA is throwing uptrend signals. If we follow the moving average, gold may try to hit 51000 – 51990 (0.236) levels.
Intraday traders should watch dynamic resistance before entering.
Silver Follow Up & Future Predictions For 2020 & 2021 – Part I
Here I have used Gann fan and Fibonacci on Silver sport to identify the current trend.
Fib Retracement: Top: $29.90 Bottom: $11.64
If silver remains above the 78.6% level, the target will be $27 – $27.8
And if it goes inside 8/1 or remains below 78.6% level, we will see the silver price at 0.618 value of fib retracement. The day traders can use the following levels as targets: $25 – $24 – $23
According to DMI, ADX is less than 25 but turning up. And +DI is signaling an upside rally. Technically, silver is a further advance.
For advance traders, watch significant releases or events that may affect the movement of gold , silver & crude oil: Monday, Dec 21, 2020:
There is still not worry about long positional trader until the price would not fall below 13397 and Support 13000. To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
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