Gold, Silver, Nickel, & Aluminium Outlook & Updates

free commodity silver daily chart tips

Silver Technical Analysis with Gann & Fibonacci

Currently, silver has jumped back into the uptrend area. It has also broken the parallel channel in the last trading session. But, the buy is not confirmed yet. The uptrend can be resume if it remains above 0.618 of retracement level and 3/1 & 8/1.

If that happens, then you can buy for the targets of 63900 – 65100 – 65960 – 68454.

What happens if it’s fake-out? That’s a straightforward scenario on the above chart. MCX silver futures will come under the control of sellers in the downtrend area. It will fall nonstop for the targets of 59960 – 59400 – 58600 – 55765.

Part 2: MCX Gold Price Limited Downside, Big Upside

gold tipsIn the previous week, gold has made a high of 47370 (+531 / +1.14%) and closed at 47037.

First, did you read my last gold outlook report? If not, click here and read it now.

As I had written, “If gold does breakout of 46860 level, then we may see 47276 – 47600 – 47960+. Don’t get confused! You have to watch out the level 46860 for an uptrend, and the closing price below the Doji candle indicated a bearish trend signal”.

At present, gold is under buying pressure. We will see the remaining targets soon.

Condition: it has to break/close above to 0.618.

Will Nickel Hit the 1570 level?

free commodity mcx nickel tips updatesHow many of you read the 27 Sep technical report of Nickel? If you did not read then click the below link:
MCX nickel’s Elliott wave projection (Target 1570)

Nickel has started rolling upward to complete the 5th wave. Be ready to see 1506 – 1532 – 1550 – 1570 target levels.

Aluminium Update

mcx aluminium tipsDid you read my Aluminium report? If not, then click the below link:
Aluminium Should Run Up To 240+ In Next 30 Days

I had written, “aluminium has made an all-time new high of 236.3 and declined. It can dig more upside from here. Before that, we may see retesting of 229 – 226.8 levels.
Afterward, it can move for the target of 233.6 – 236 – 238+.”

Aluminium has tested 226.8 on 30 Sep by making a low of 226.1. Afterward, it started moving forward and touched all targets.

If you’re still losing money in MCX trades, nobody can help you.

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Gold Price Limited Downside, Big Upside

free commodity gold daily tips chart

MCX gold has started falling since 1st June, and it’s moving under a parallel channel. But this time, it can break out this channel. Why? I will explain it through Elliott wave projection in the next update.

In the last trading session, it made a Doji candlestick. And that’s a sign of trend change. If gold does not break the crucial level, then it can drop up to 0.382 to 0.236.

In simple words, short-term targets: 46200 – 45960 – 45765
And for long-term traders: 45600 – 45060

But, the uptrend isn’t far away. If gold does breakout of 46860 level, then we may see 47276 – 47600 – 47960+.

Don’t get confused! You have to watch out the level 46860 for an uptrend, and the closing price below the Doji candle indicated a bearish trend signal.

This week we may see higher fluctuations due to upcoming economic events. Watch the following significant releases or events that may affect the movement of gold, silver, crude oil, & natural gas: Read more

Freemium: Gold (XAUUSD) & Mentha oil

free commodity gold (xauusd) tips & daily chart

BEFORE

UPDATE: Gold’s Simplified Trading Strategy

I had written in clear words, “…according to Elliott Wave theory, it was in a corrective wave. It has completed the ABC, and now gold can start marching for a new impulse phase. Therefore, we can expect the gold’s target price 1782 – 1790+“.

AFTER

free commodity gold xauusd chart, tips, & updates

The first target of gold has come. Will it touch the second target?

To read the full article of Gold, Subscribe Now.

free commodity mcx menthaoil tips chart

BEFORE

UPDATE: Will Mentha Oil Touch 960 Level Again?

I had written in bold words, “MCX Mentha oil can bounce here. It can retest the 960. The intraday & short-term investors should enter around the support trendline for the targets of 926 – 936 – 958“.

AFTER

free commodity menthaoil trading tips chart

Today it has touched the first target.

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Gold: These Two Levels Can Change The XAUUSD Trend

free commodity gold (xauusd) tips & daily chart

Advice For Day Traders:

XAUUSD is not tradable between the range of 1766 to 1745. They are trend changer levels.

Gold’s Simplified Trading Strategy:

According to Elliott Wave theory, it was in a corrective wave. It has completed the ABC, and now gold can start marching for a new impulse phase. Therefore, we can expect the gold’s target price 1782 – 1790+.

In simple language, you should wait for the breakout of 1766 or 1745. Because of that’s a crucial level for XAUUSD traders.

If gold will breakdown the 1745 level, then the downtrend will begin. And that downtrend can drag it down up to 1730 – 1706 – 1686.

Please note, don’t forget to watch significant releases or events that may affect the movement of gold, silver, and crude oil: Read more

FOMC Minutes: A confirmation for an explosive rally in XAUUSD

free commodity gold chart tips

Gold has started collapsing nonstop after Nonfarm Payrolls data. And it stopped at my ‘tested many times’ level. XAUUSD has recovered 50% almost in the previous week.

The gold spot needs to break the 1793.6 level to start an uptrend. Afterward, it will go for 1806 – 1826 levels. And these levels can push the gold price up to 1900.

But if gold breaks the strong support again, it will start falling. This time, it won’t stop! Hence, the short-term traders can start selling from there for the targets of 1744 – 1726 – 1684.

MCX Gold Will Have An Explosive Rally This Wednesday

MCX traders should keep their eyes on the 46720 levels. It’s a trend changer.

As per XAUUSD, Indian MCX Gold can raise 47500 – 48260 after a breakout of $1793.6. And if it breaks the strong support of Gold Spot, it will keep falling for targets of 46260 – 45860.

For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil. Especially, don’t forget to watch this Wednesday’s events to find out gold upcoming actions. Read more

Part 2: Silver will touch 69200 levels again?

free commodity silver daily chart tips

Key level: 62110
On 6 June 2021, I had drawn a chart of silver (URL: https://moneymunch.com/mcx-silver-touch-69200-this-week-tips/). Wherein, I’ve shown the silver can collapse up to 0.618. It has made a low of 62184 and touched 0.618 levels of retracement.

If MCX silver crossover and close below the level of 62110, it will try to hit 60000 – 58900 – 57260 levels.

Otherwise, it will take a bounce back from here and come back to the 65800 – 69200 levels.
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