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MCX Gold & Silver Spot Prepare For Another Price Advance

  • Will Gold Price Go Up?
  • It's Go Time for Silver Price!
  • Important releases & events for Bullion & Energy sector commodities
free commodity gold daily tips chart

free commodity gold daily tips chart

Determining the MCX Gold Price Next Big Move

According to this chart, gold has started falling from August month. Doji appearing in the last trading session. It’s signaling a possible reversal. If gold follows the dynamic resistance, we may see a continuous downtrend. That can be up to 0.5 (47300) to 0.618 (45200) of Fib retracement.

Fib retracement (reverse):
Swing High: 56191
Swing Low: 38400

Here’s ADX less than 25, and +DI is above the -DI . Additionally, 200 MA & 50 MA is throwing uptrend signals. If we follow the moving average, gold may try to hit 51000 – 51990 (0.236) levels.

Intraday traders should watch dynamic resistance before entering.

free commodity silver spot chart signals

Silver Follow Up & Future Predictions For 2020 & 2021 – Part I

Here I have used Gann fan and Fibonacci on Silver sport to identify the current trend.

Fib Retracement:
Top: $29.90
Bottom: $11.64

If silver remains above the 78.6% level, the target will be $27 – $27.8

And if it goes inside 8/1 or remains below 78.6% level, we will see the silver price at 0.618 value of fib retracement. The day traders can use the following levels as targets: $25 – $24 – $23

According to DMI, ADX is less than 25 but turning up. And +DI is signaling an upside rally. Technically, silver is a further advance.

For advance traders, watch significant releases or events that may affect the movement of gold , silver & crude oil:
Monday, Dec 21, 2020:

  • 12:00 – Gold Index

Wednesday, Dec 23, 2020:

  • 3:00 – API Weekly Crude Oil Stock
  • 21:00 – Crude Oil Inventories, EIA Refinery Crude Runs (WoW), Crude Oil Imports, and Cushing Crude Oil Inventories
  • 21:30 – Natural Gas Storage

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Mr.Dev, has been in the forex and commodity markets since 1997. He’s one of the few non-biased investment advisors to have correctly called the current bull / bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on Indian commodity markets & currency, he is becoming increasingly more renowned. Mr.Dev has been quoted in many of the newspapers. He is a highly recommended technical analyst by many of the local financial newsletters and advisory services. He also is founder of commodity profit sharing service on Moneymunch.

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6 Comments

  1. Thank you for sharing sir ……and than you for the Christmas offer , because of my busy schedule I was not able to concentrate here, so I missed the previous offers. I took a premium subscription as I wanna concentrate here. And it’s amazing
    I am enjoying the plan and very satisfied with the services thank you again

  2. Great analysis 👍 sir
    I was waiting for the new update of silver, I want to join but I was waiting for silver and the result is very satisfying so now I am going to choose the best plan which suitable for me. Thank you so much I am gonna take the advantage of offer thank you for sharing your knowledge with us.

  3. As per our telephonic conversation, I have made payment using the UPI option and asked details forwarded to your support number.

    Thank you!

  4. Fibonacci & Gann fan has set properly, the chart is very nice eye catching, neat and easy to understand.

    Your analysis is extremely good 👍 the frst target reached and second was almost there.

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