Unlocking The Next Targets of MCX Gold, Crude oil, & Aluminium
Gold Price Slowly Going Upside
Key levels: 48113 – 47616
MCX gold has been moving under the range of 48113 – 47616. It’s a very crucial point. We may see a continued uptrend ahead if it breaks and close above 0.382 retracement level. That can be up to 48260 – 48490 – 48600 – 48700.
And if it breaks down the 0.5 retracement level, then we may see 47496 – 47300 – 47160.
Kindly note, 47616 is strong support.
Beware, Crude Oil Bulls – That’s the Beginning of the End
Barrier: 6290 level
Crude oil may keep running upward for the levels of 6360 – 6500+. To maintain an uptrend, it has to crossover the hurdle level of 6290 by closing above.
And if it breaks the level of 6060, then wait for my update.
Aluminium Is Going To Test Critical Technical Support Levels
MCX Aluminium is coming back to the strong support of 226.6. Be ready to jump on it.
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Gold, Silver, Nickel, & Aluminium Outlook & Updates
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.
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Crude oil, Nickel, Aluminium & Mentha oil Tips & Updates
MCX nickel’s Elliott wave projection (Target 1570)
Nickel has started moving forward since March 2021. It will complete the 5th wave soon.
According to Elliott wave projection, MCX nickel can touch 1570 to end the 5th wave.
Intraday & short-term traders can buy nickel for the target of 1485.6 – 1506 – 1532 – 1550 – 1570.
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Aluminium Should Run Up To 240+ In Next 30 Days
Key levels: 229 – 226.8
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+.
Latest Update: Crude Oil Call
Latest Update: Will Mentha Oil Touch 960 Level Again?
EWT Says: MCX Aluminium Will Come at 162 Level
According to EWT, the 5th wave has been almost completed. The ABC correction will start soon. As mentioned in the chart, MCX aluminium will start collapsing for the target price of 176 – 172 – 168 – 162 soon.
At present, if we see for intraday traders, then it’s upward. Aluminium will touch 184 – 186 levels, and then ABC correction will start.
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Crude oil, Brent oil, & Aluminium Chartolgy & Next Big Move
Aluminium Is Close To Something Big
According to this chart, MCX Aluminium can fly from here if it does not close below 176.4 levels.
Targets: 178.6 – 179.6
Short-term targets: 180 – 181.6+
But, if it closes below 176.4 levels, then this call will deactivate. And it will start collapsing for the levels of 174 – 172 from there.
Crude Oil Is Going to Blast – A New Update & Tips
How many of you sold crude oil on the previous Thursday?
Article: MCX Crude Oil & NYMEX Brent Oil In-depth Analysis & Tips
In the previous article on crude oil & brent oil, I said in bold words, “…so, intraday traders can set the following targets to make some money: 4560 – 4500 – 4460 – 4400 | …and, if brent oil breaks the hurdle ($66.60) and shows a closing price below it, we will see a heavy downfall. Targets: $64.6 – $62.8 and below”.
The crude oil has reached all targets! Enjoy!
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