Gold & Silver ( Bullion ) tips

Stay ahead in commodity market trading with our daily free Gold and Silver tips, research reports, and trend analysis. Make informed decisions with expert insights.

MCX Gold Trading Strategy for Intraday Traders

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free commodity gold tips chart

Gold is taking reversal from the strong support (SS) level (48635). And at present, it’s very close to the SS. Can we see a reversal again?

If gold remains above SS, then it can touch the following levels: 49000 – 49200 – 49400

But according to RSI, MA, & DMI, it seems in a downtrend. So, if MCX gold breaks the support level, we may see the following targets: 48460 – 48260 – 48000

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Gold Price 2021 Roadmap – EWT

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free commodity gold chart tips

The Gold spot started the bearish Elliott wave on the daily timeframe. Right now, it’s making the 5th wave. It has to cross 1824 – 1800 – 1776 to complete the fifth wave. The fifth wave will complete around 1690.

If there will be the upside breakout of wave 4, then it’s a failure of the Elliott wave pattern. And the target for the uptrend will be as following 1980 – 2000.

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MCX Gold 2021’s Supercycle

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free commodity gold daily chart tips

MCX Gold is collapsing after making the all-time high of 56191 (swing high). It has created a parallel channel in December. Gold prices are rising here. If gold breaks the dynamic resistance without fakeout, it can touch 51000 – 52000 – 52384 levels at the beginning of 2021.

And if gold breaks the parallel channel and retracement value of 0.618, it will become unstoppable and hit the following levels: 48800 – 47800 – 47296 – 46000 – 45196

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MCX SILVER – MA, EMA, & DMI [Buy Now]

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free commodity silver 15m chart tips

Silver has broken the dynamic resistance & triangle formation. According to MA, EMA, & DMI, silver will run to reach 68800 – 69000 levels.

It will start falling after breaking the hurdle/support line. How much? 68000 – 67600 below.

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Should you sell Gold now?

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free gold 15m chart calls

This is MCX Gold 15 minutes chart (Heikin Ashi). It is bouncing from the hurdle (support). And if we look at the Gold Spot, the RSI is bullish and calls for further upside. Hence, MCX traders can buy for the following targets: 50060 – 50120 – 50200.

According to MA, EMA, and DMI, it’s bearish. If it remains below to hurdle, intraday traders must sell it for the targets of 49860 – 49800.

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What’s Next for MCX Gold Guinea Price Trend Forecast

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free commodity goldguinea daily tips chart

MCX Gold Guinea is making a triangle pattern. As per the ADX, the trend is weak and, +DI is above the -DI. That indicates an uptrend ahead. Additionally, 200 MA isn’t broken.

According to DMI & MA, we have chances to see 40260 – 40500+ levels.

But, if you look at the triangle pattern, it seems bearish. We have more chances to see downward (huge selling pressure) if it breaks the support line (dashed). And 50 MA is indicating the same.

Hence, once it breaks the support line, intraday traders can sell for the following targets: 39460 – 39260

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