MCX Gold & Silver Technical Analyses: Recent Trends & Upcoming Targets

Free commodity gold daily chart and tips

MCX Gold Technical Analysis: A U-Turn in the Control Channel Signals Potential Targets

According to the above technical daily chart, MCX Gold futures in the Indian commodity market have recently reversed direction within the control channel. It is reasonable to anticipate potential price levels at 58660, 58360, and 58000 before the commodity resumes its upward trend. Stay tuned for additional updates and insights on the gold market.

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Silver Price Analysis: Exploring Resistance, Control Price, & Volume Dynamics

Free commodity market MCX Silver daily chart, and trading tips.

Examining the Parallel Channel and Resistance Levels for Short-Term Traders

Upon analyzing the chart, it is evident that silver has been trading within a parallel channel for almost a year, indicating a well-defined price range. In the previous trading session, the price of silver reached the resistance line of this channel. For short-term traders, a critical resistance level to watch is 74060. If this level is not surpassed convincingly, it could lead to a potential downturn towards the control price (CP) line. It is worth noting that silver has yet to test the CP line and the 100-day moving average (MA) successfully.Continue reading