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Copper has made the Bullish Elliott wave on the daily timeframe. It’s completed the five-wave cycle, ABC correction is remaining. After the 5th wave, the trend started to make the A, and it’s still making it. MCX copper has to cross 585 – 580 – 560. After that, it will rise for a short period to make the B. And it will fall again to make C. But all over, it’s an uptrend.
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Silver is growing slowly. According to this chart, silver is trying to move upside from the strong support trendline. It’s a potential reversal point based on a support trendline.
Currently, it has broken a strong support trendline. We have chances to see a tail, fakeout, or excess here. That can be up to a hurdle. And the hurdle breakout is a direct sign of a downtrend.
After all, 200 MA is recommending further advance here. So, we can pick the silver mega lot for the targets of 63000 – 63360 – 63660 – 64000+.
Safe traders can wait for a 50 MA breakout before entering as well.
Click here: Copper detailed reports & tips
In that newsletter, I had written in bold words, “according to a moving average and parallel channel’s support trendline, copper is strongly bullish. It can show us an all-time new high before the end of this month. So, the day traders can buy for the levels of 536 – 540 – 556+“.
On 16 Nov trading session, copper has made a high of 551 and touched the first two targets.
Click here: Will MCX Crude Palm Oil touch the 900?
How many of you bought MCX CPO? I had written, “currently, MCX Crude Palm Oil (CPO) shows an uptrend. By following the ADX, we can say that the trend will rise because ADX is greater than 25 (ADX>25), and +DI is above the -DI. Let’s have a look at the volume. Volume spikes double of the average, so this also shows an uptrend, and it will go to the 900 – 920 – 960+“.
Currently, CPO is running nearby 926 levels.
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MCX Copper is playing under a parallel channel. Currently, it’s at the support trendline. Additionally, there’s a Fibonacci retracement value of 0.886.
The best trading strategy for the day traders is:
According to a moving average and parallel channel’s support trendline, copper is strongly bullish. It can show us an all-time new high before the end of this month. So, the day traders can buy for the levels of 536 – 540 – 556+.
Important – Due to the election of the USA.
From where it starts collapsing?
You can sell the copper at/below parallel channel or Fib retracement value 0.886 for the targets of 516 – 506.
U.S election results will come soon. Today, we have chances to see solid movements in MCX’s bullion sector commodities. And Gold Guinea crossed 50 MA upper side.
Intraday & short-term traders can buy using this strategy to make some money. Targets: 41800 – 42200 – 43000+
If it closes below 50 MA, then don’t hold your position in loss. I prefer to exit after it.
Do you want to know about MCX Gold?
Gold has touched the first two intraday targets: Click Here to Read Now
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In the last trading session, silver has gained +361 points. As we updated in previous newsletters, silver is flying with gold. Silver wings may cutoff after breaking out 60,000 levels and may fall till a hit of control price line. Hence, this breakout will lead the prices 59,000 to 58,000. Don’t forget to keep your eyes peeled at 5 MA (orange).
Currently silver is running above 61K. As per this 4-hourly chart, we can expect continuous uptrend for the levels of 62,000 – 63,360 – 65,000+. It could keep pushing upward until a crossover of 5 MA and 20 MA (blue). Further information I will update shortly.
I would like to keep your attention on the previous week’s major updates:
Copper Warning – This is Not a Selling Opportunity
I had written, “We may see at all-time high soon…”.
Zinc Trading Strategy & Tips with Hourly Chart
I had written, “Based on the current trend:
Uptrend targets: 165 – 170+…”.
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After a short reversal, gold will start marching for 49060 – 49200. Don’t mess with gold below support trendline.
Can we expect a key level as a target? Yes, and I will update it into the next newsletter.
Copper has made a high of 509.25 and took U-turnWe may see at all-time high soon.
S-RSI is a key to take an entry.
Black Gold will explode soon. Read the previous report here: Crude Oil Trading Strategy & Calls
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First, go and read crude oil special report: Crude oil Remain in an Uptrend?
We had written, “Above yesterday’s high and 4290 closing price, a massive upward rally will start for 4330 – 4390 – 4430 levels”.
Even our premium subscribers also bought crude oil at 4260 levels.
Crude oil calls the first target has achieved. Do you think it will touch the second & third targets?
LockFree subscribers can book full profit from Crude oil. To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
Have you followed Nickel’s tips? If not, click here to read.
Nickel both side targets has blasted.
What else you want?
Two days ago, we had updated a copper positional call.
Read here: MCX Copper Confirm Signals
Do you think prices will hike? If yes! Our targets are 445.6 – 446.4+ levels.
But as we see, copper is cooking something else. Copper is playing between support trendline and support area. It has tested more than four times 444 level since yesterday. It can fall for support 440 soon.
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