This week gold may jump up to 38460. The current trend can drag the gold prices up to 37700 – 37560 – 37400.
Weekly outlook
Trap levels: 38600 – 38700
This trap level can unlock 39000 – 39260.
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As per the above chart, copper seems down for a short period. Wait for the tail and jump for 439 – 438.6 – 438 levels.
Don’t forget the hurdle (red line). This hurdle can influence the copper price up to 442.
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EDELWEISS (positional)
Roughly Head & Shoulders pattern
Previous Resistance @70 already become current support with created a TAIL.
Protective for swing trader 92 below.
Safe and easy target is 128 above.
We might see spike if price not move below 92.
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After “Price Rotation” on daily chart in last nifty update, we have completely 400 points upward moved. Now uploaded Intraday 30minitues chart for spot nifty.
11900 nearby support as per channel and time-cycle, break this or closing below it with volume at 2 clocks today can see downward move. There is a chance to create (5th) wave of upward from channel support. Buyers will continue above 11900 buying yet, sellers can be active below this level.
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Gold is still performing as per our technical analysis. We recommend reading the last report of Gold for this week: These Charts Will Confirm MCX Gold & Silver Next Move
In the above link, we have updated two silver targets after an upper breakout. Those targets have achieved successfully. Approximately 1500 points profit/lot.
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Key: $18.180
A breakout of $18.180 levels will hike the MCX silver prices. Silver futures (CFD) can jump up to $18.240 – $18.310 – $18.400+.
Note: the closing price below $18 (into an hour candle) will end the uptrend for the short-term. Next? What will happen? We’ll update it soon for the premium subscribers.
The switch between supply and demand is started at an excess point of the channel which means, its fight between bear and bulls called price rotation. I already predicted this excess earlier. In the recent day, we have a high spot nifty 11714 which is an investor’s memory level.
There is this kind of price rotation which forces the spot nifty to move either 11918 otherwise 11200 can force. Which direction will our is important for traders, Volume of the future will perform great to identify a certain direction.
We’re going to spike over nifty shortly will 1x to 5x your portfolio in an options trade.
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