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Intraday Resistance at 8047
8130 nearby strong resistance at value high.
If U-turn exist with new low, target will be 7330 nearby and targets of control price is at 7107.
As far as crossing the level 8330, I won’t speak about bullish.
Here are the best entry-levels for long-term investment on natural gas: 120 to 100
Targets for short-term investors: 190 – 230
Targets for long-term investors: 260 – 300+
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Three best levels to pick the crude oil for long-term investment purposes: 2200 – 2000 – 1860
Targets for short-term investors: 2600 – 3000 – 3260.
Targets for long-term investors: 3700 – 4000 – 5000.
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All sectors of Indian financial markets are getting impacted by COVID-19. The total number of 123 countries are affected by a coronavirus. 1.32L+ confirmed cases and 4.9+ thousand people’s deaths reported by this virus.
Data source: WHO (World Health Organization) & National Health Commission of the People’s Republic of China
Not only the Indian market, all over countries’ financial markets fear over this virus. It foothold is everywhere. But it will impact on a particular sector only. Many stocks & commodities will hit the bottom level. Isn’t it a new opportunity for smart traders? Don’t get scared. Don’t divert stocks from a portfolio without in-depth research. Fluctuation is temporary. It’s time for a new buying opportunity.
Hint: oil and manufacturing
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Coronavirus information – India
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As per the chart, MCX Gold will keep moving upward for 45500 to 46000 after a short reversal (43800 – 43500 levels).
Although, COMEX Gold futures (CFD) need to break out/close above the last candle to continue the uptrend (for 1720 – 1740+ levels).
For a short period, we can expect 1650 – 1600 levels.
Remember, Never sell above 1691.7 level.
Upper trendline breakout will initiate buying pressure for 48000 – 49000 levels. And under the upper trendline, 46000 – 45000 – 44600 expected.
Bearish shaved head candle indicating continuing the downtrend for 3100 – 3000 below. The first rule is, the next candle should not be positive. Otherwise, it will start recovering the previous loss (3300 – 3400).
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After the long time, we are updating free report here.
Daily TimeFrame:
Pattern name, Double top
After breaking 28458, we can see next level 27466 which is a retracement of 0.618.
All major supports and resistances are plotted on the chart from 2012 to 2020 with the strong and tight channel.
Here are two channels being seen in a large channel drawing a small channel inside a chart. A small channel having support which is sign for reversal at the support 28147(Resistance can be current support).
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