Commodity MCX / NCDEX / COMEX Market tips and forecast.
As per the chart above, gold is trying to take a U-Turn. It can slip for 47460 – 46760 – 46260 levels.
As per the S-RSI, it will start running upside soon for the dynamic resistance level of 53900. Hence, targets: 49560 – 50000 – 52000 – 53000+
Don’t forget to keep your eyes on downtrend level 46260.
As per the above chart, the parallel channel’s uptrend line can use as a stop loss.
Hurdle: 162.6
Based on the current trend:
Uptrend targets: 165 – 170+
Based on Fib. Retracement:
Downtrend targets: 158.2 – 152.2 – 149.2
Accurate entry-level, targets, and stop-loss will update for the premium members only by Moneymunch’s mobile app.
Gold has made a new high as per the last update based on Elliott wave theory. You can check the last updated chart: This GOLD Elliott Wave Will Confirm The Next Move
For intraday traders:
If that is a right shoulder, C (T1) and C (T2) are the next targets. S RSI is confirming the downtrend by crossover.
For the long-term investor (Hurdle Breakout):
T1: 47560
T2: 47260
T3: 47000
Invalid: Above 48400 OR Head.
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The positive trend will start after a breakout of hurdle.
Targets: 951 – 936 – 925
Accurate entry-level, targets and stop-loss are available for the premium subscribers. Get flat 50% OFF on commodity pricing plans: click here
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As per the following chart, MCX natural gas is under downtrend for a short period. Without fake-out, commodity natural gas prices may drop for 118 – 116 levels below.
How about E? If its price remains above to the support, we will see 126.6 – 128+ soon.
Accurate entry-level, targets and stop-loss are available for the premium subscribers. Get flat 50% OFF on commodity pricing plans: click here
Note: the special offer is going to end.