free commodity naturalgas chart tips

Is Natural Gas Ready to Complete a “Head and Shoulders”?

free commodity naturalgas chart tips

Natural gas started to make the head and shoulders pattern on the daily timeframe. First of all, let’s understand some basics about the head and shoulders pattern. Here, it’s a bearish head and shoulders pattern. In this pattern, the trend starts with the uptrend and makes the left shoulder, head, and the right shoulder. And after the completion of the right shoulder, it falls by breaking the neckline.

In this chart, the trend completed the left shoulder, and the head is almost there. And then it will create the right shoulder. It will fall up to the neckline to complete the formation of the head. And the targets to reach the neckline are as following 180 – 175 – 168.

After hitting the neckline, the next step of natural gas will be the right shoulder. As per the rules, the right shoulder can be similar to the left shoulder or, it can be at a higher level than the left shoulder. Because the left shoulder is at 203, the trend will march again to 203 to make the right shoulder. To reach 203, natural gas will hit 180 – 190 – 200.

And then the trend will take reversal and fall by breaking the neckline.
Targets: 195 – 185 – 175.

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free commodity crudeoil daily chart tips

Time to Pick MCX Crude Oil (INTRADAY)

free commodity crudeoil daily chart tips

According to the daily chart of MCX crude oil, it is further advance for short-term investors. The retracement level of 0.618 is a perfect entry-level.

In the previous update of crude oil, we have recommended buying many times.

As per RSI & MA, it seems bullish . We will see soon target 1 and target 2 price after a short reversal.

But if you want to see a clear trend, we’d see it in a 4 hours chart:

free commodity mcx crudeoil 4hrs chart & tips

According to the 4H chart of MCX crude oil, it’s sharply moving upward. It’s safe for intraday & short-term traders to take a position nearby the support trendline or 50 MA for the targets of 3600 – 3660 – 3700 – 3800.

But what if it breaks the support trendline? DMI is indicating collapse ahead. How much crude oil can come down after breaking out the support trendline? To read the full article on crude oil, subscribe now & get 50% OFF.

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free commodity crudeoil tips chart

Will Crude oil touch 3648 before 2021?

free commodity crudeoil tips chart

Crude oil has started an Elliott wave and made the 4th wave, and now it’s making a fifth wave. As per the rules of the Elliott wave, the fifth wave will be completed at 61.8% (3648) or 50% (3600) of Fibonacci retracement 1+3.

The 2nd wave is 61.8% of the 1st wave, the 3rd wave is (more than) 261.8% of the 2nd wave, and The 4th wave is 38.2% of the 3rd wave.

After the completion of the fifth wave, there will be the ABC correction. And it would be completed between 3356 and 3216.

If the trend breaks the 3356 and 3216 both the levels, then the Elliott wave may fail. But if the trend completes the Elliott wave, the trend will again start to rise.

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free commodity crudeoil chart tips

MCX CRUDE OIL: Massive Rally is coming soon

free commodity crudeoil chart tips

According to this chart, crude oil will keep moving forward and hit the following targets: 3600 – 4000 – 4400 – 4800

Here value 1 of retracement will react as support. And consecutive breakout of this support is a direct sign of a downtrend. It can be up to 0.886 (2982) to 0.786 (2735). You can use it as a target.

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free commodity crudeoil tips chart

UPDATE: Identifying the Crude Oil Price Next Big Move

free commodity crudeoil chart callsDid you read my 23 Nov report on crude oil?
Visit here: Identifying the Crude Oil Price Next Big Move

I had written in bold words, “smart investors can buy for 3260 – 3300 – 3360 – 3400 levels”.

free commodity crudeoil tips chart

Crude oil has touched the first three targets by making a high of 3376 levels.

Per lot, we have made a profit of 150+ points (Rs.15,000). What else you want in a free subscription?

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free commodity crudeoil chart calls

Identifying the Crude Oil Price Next Big Move

free commodity crudeoil chart calls

According to this chart, MCX crude oil is trying to climb upward. It has started upside rally from the beginning of May.

Here, I have applied Volume, DMI, MA, and Fib Retracement to identify the next move. Moving average of 50 & 200 is throwing direct up signals by crossover. And here, ADX is less than 25 but +DI above the -DI. Hence, we have chances to see slow movements.

Smart investors can buy for 3260 – 3300 – 3360 – 3400 levels.

In the previous trading session, it has created a Doji. It’s a direct sign of a reversal or trend continuation. But if it breaks the support line, the crude oil will fall to 88.6% (2982) – 78.6% (2735) of Fib retracement levels.

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