MCX Gold & Gold Spot Price Ready For Another Rally Attempt

free commodity comex gold spot chart signals

COMEX Gold Price Trapped at Control Price

Gold futures preparing to come at $1740 – $1750 – $1760. Day traders must wait for a breakout of the control price line before entering.

The uptrend will end whenever the gold spot price breaks strong support.

free mcx gold 4-hourly chart & tips

Is Gold Going To 45700 Or Higher?

The chart above indicating a clear uptrend continuation. We may see sideways movement before it hits the top of the rectangle.

According to the Darvas box (rectangular formation), MCX gold will move upward gently this week. Hence, intraday traders can jump between the range of 45200 – 45300.

Targets: 45560 – 45680

If gold breaks the bottom of the rectangle, don’t buy. And wait for my next update on the gold.

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MCX Gold & Mentha oil Tips & Updates

PART 2: When Will MCX Gold explode?

free commodity gold chart tipsOn 15 Feb 2021, I have written an article on Gold. First, click below & read again:
When Will MCX Gold explode?

I have written in that article, “If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46860 – 46600 – 46000 – 45660 – 45200“.

Gold has touched all targets.

free commodity gold tips

NEW UPDATE:
Keep eyes on the retracement value of 0.618. It will act as a resistance.

Targets: 44260 – 43600 – 43000 – 42260

Alternative scenario: If gold remains above 45200, it may try to hit 0.382 (TP: 46000 – 46800+).

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UPDATE: Mentha oil – Profit Booking Time

How many of you bought Mentha oil after reading this report?
MCX Mentha Oil Overall Outlook Is ‘Strongly Bullish’

free commodity mentha oil chart tips

Mentha oil made a high of 964.9 yesterday, and the first target has come.
Approx. Profit /L = Rs.15,000+

The short-term investors can book profit here. As I mentioned in the above chart, it’s MA crossover time. It may move sideways.

Overall, it’s in an uptrend. Hence, the targets will remain the same.

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MCX Gold Guinea’s Downtrend: Is This Just the Beginning?

free mcx gold guinea daily chart tips

MCX Gold Guinea is following a parallel channel since August 2020. Recently, it has touched the support trendline and started moving forward. Will it keep moving? How much? It will keep running for 37600 – 38000 levels.

But according to MA, Gold Guinea should keep falling. And for the following levels: 36800 – 36400 – 36000

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PART 2 – When Will MCX Gold explode?

free commodity gold chart tipsAs expected, gold has started collapsing after a breakout of the test level. Will it keep falling?

First, click here and read the previous article on gold: When Will MCX Gold explode?

Today’s Gold Chart →

free commodity gold chart tips

I have written in clear words, “If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46860 – 46600 – 46000 – 45660 – 45200“.

Gold has touched the first three targets by making a low of 45861. Profit per lot Rs.2,10,000

Anyway, what next? Gold can take a U-turn from here. This can be up to 46760 levels. Overall, it’s under a downtrend.

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When Will MCX Gold explode?

free commodity gold chart tips

Main scenario: If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement.

Targets: 46860 – 46600 – 46000 – 45660 – 45200

Alternative scenario: If gold remains above 0.5, it may try to hit 0.382 (TP: 48260 – 49000+).

So, here hurdle is 47296 for the short-term traders. Intraday traders can play both sides.

And we may see a strong uptrend after hitting the support.

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Silver Price 2021 Roadmap

free commodity silver daily chart tips

According to the date range on MCX Silver daily chart, it’s changing the trend after every 46 bars.

If silver does not crossover 88.60% of fib retracement before completing 46 bars, we may expect a downtrend ahead. It can collapse up to 61000 to 55765. Here, targets for intraday traders: 67500 – 65600 – 63660

Or if it breaks the 88.60%, then silver will make a new high. And it will start raising & hit the following levels: 75000 – 77000 – 80000+

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