Free Stock, Commodity, Forex Trading Tips & Education Articles

Will Crude oil touch 3648 before 2021?

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free commodity crudeoil tips chart

Crude oil has started an Elliott wave and made the 4th wave, and now it’s making a fifth wave. As per the rules of the Elliott wave, the fifth wave will be completed at 61.8% (3648) or 50% (3600) of Fibonacci retracement 1+3.

The 2nd wave is 61.8% of the 1st wave, the 3rd wave is (more than) 261.8% of the 2nd wave, and The 4th wave is 38.2% of the 3rd wave.

After the completion of the fifth wave, there will be the ABC correction. And it would be completed between 3356 and 3216.

If the trend breaks the 3356 and 3216 both the levels, then the Elliott wave may fail. But if the trend completes the Elliott wave, the trend will again start to rise.To become a subscriber, subscribe to our free newsletter services. Our service is free for all.

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MCX Gold – Setup Final Opportunity

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free commodity gold tips & chart

According to this chart, gold is further advance. Intraday traders can see 49860 – 50000 levels soon. We may see 50200 – 50400 in extension before the weekend.

If gold breaks the support trendline, gold can collapse up to the trend diversion point (from 49560 to 49400 levels). Speculators can enjoy both rides.

Once it breaks the support trendline, I will update you.

Note: gap acts as resistance.

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Will Zinc Return at a Strong Support Trendline?

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free commodity zinc tips chart

Zinc took a bounce back from the lower levels yesterday, and it has failed to break last week’s low level of 212.1. Intraday traders can initiate long positions for levels of 219.6 – 220.

If it breaks last week’s low, we may see 210 – 208.6 levels. Overall, it’s positive. Long positions can be initiate with targets at 221.6 – 224 – 230 in extension.

The DMI & MA is bullish and calls for further advance.

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Nickel’s Strong Buy Signal for Short-Term

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free commodity nickel chart tips

According to this chart, nickel is further advance. Once it breaks the hurdle, it will start marching for 1260 – 1280 – 1300 levels.

Hurdle: 1236

Whenever it hits the hurdle level, what will happen? Here, it will act as resistance. We may see reversal up to the support line (1212 – 1180).

Short-term investors can continue position for the above targets. To become a subscriber, subscribe to our free newsletter services. Our service is free for all.

This is part II. You can also refer to the previous report of nickel by clicking here.

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Will GOLD Hit the 50000 this Weekend?

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free commodity gold tips chart

Overall, MCX gold is collapsing. Look at the chart, if it breaks a low of 48924, we may see freefall up to 48500 – 48360.

According to 50 MA, gold will try to push the upside. If we see the gold closing price above the second top of the trendline, it will start rising to the levels of 49760 – 50000.

Here ADX is less than 25 and 200 MA throwing a direct sell signal. Please note the crossing of +DI and -DI before taking a new entry.

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MCX CRUDE OIL: Massive Rally is coming soon

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free commodity crudeoil chart tips

According to this chart, crude oil will keep moving forward and hit the following targets: 3600 – 4000 – 4400 – 4800

Here value 1 of retracement will react as support. And consecutive breakout of this support is a direct sign of a downtrend. It can be up to 0.886 (2982) to 0.786 (2735). You can use it as a target. To become a subscriber, subscribe to our free newsletter services. Our service is free for all.

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