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
In 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?
How 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
Did 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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Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
I read the description alongside looking at the chart. Your prediction might turn out to be a golden opportunity!
Let’s talk about the angle you’ve shown in the charts, I must say I can clearly see the trend you’re trying to show here, clearly see that it’s following the same!
Your way of applying the Gaan theory is worth the appreciation! People must accept that you’re one of the top-notch guides when it comes to market!
You’re a gem for traders like me who are trying to put their foot into the market. As I said in your earlier prediction, keep up the good work. You rock!
I’ve recieved the same results using fibonacci alone, but it’s more complicated compared to this EW.
We are at the tipping point now. *popcorn*
And special thanks to Dev sir, nice work with Gann theory here.
Mene NSE ke stock me buy kiya tha. bahut profit horahahe sir. bahut maza aaraha he sir.
Thank you dev Sir.
I am fress