Crude Oil Elliott Wave Cycles Point More Upside

free commodity crudeoil daily chart tips

Price had made an extreme low at 795 on 20 Apr ’20.
It had started a quick recovery after an inviolable bottom-out. Due to bearish sentiments and no evidence of the verified bottom, it had constructed 2nd wave correction. The second wave retraced 38.2% of wave 1, which indicates a sturdy bull trend is ahead!

The acceleration phase lasted for 246 days and, the Fibonacci extension of wave 3 was 161.8% of the wave.
The public participation increased when the price had broken up the high of the first wave. It has the signal for bulls that crude was likely to make a new high.

After the acceleration phase, the price has corrected the bull phase with a double zigzag. It had retraced 38.2% of wave 3.
This correction was sharp in comparison with 2nd wave.

According to the above chart,
Wave 2 has taken 89 trading sessions to correct wave 1.
Wave 4 has taken 45 trading sessions to correct wave 3.

Wave 4 was a surprising disappointment for the bull traders.

Here, wave 3 is not a power extended because it hadn’t moved across wave 1.618% of wave 1.

According to the Elliott wave principle, commodities are more often extending at the 5th wave.

Currently, the price has made a new high of 6428.
Price has entered the corrective phase.
It is constructing the 4th sub-wave of the impulsive wave ((5)).

There are two possibilities,
1. If the price breaks the parallel channel, we can expect 50% to 61.8% retracement for wave 4. Be aware of the fake breakout!
Remember, entry is also not possible without an exact reversal signal.
Caution: Wave 4 can never overlap the starting point of wave 1.

2. Price is on the control line of the base channel.
The safe trader can enter the buying position when price breaks the wave B.

Premium subscribers should not worry about entry-level or time. They will get accurate entry-level, stop loss, and targets through our mobile app.

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MCX Gold & Crude Oil: Downside Risk?

free gold 4hour daily chart tips

Update 2: Gold Price Slowly Going Upside

Did you read the previous report of MCX Gold? If not, click the below link to read it.
Unlocking The Next Targets of MCX Gold, Crude oil, & Aluminium

I had written, “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“.

Gold has taken a reversal after hitting the first target. Do you think it will go upside from here? Only premium subscribers can read the full report.

Update: Beware, Crude Oil Bulls – That’s the Beginning of the End

commodity crude oil tips signals
First, click the below link and read the full crude oil report.
Unlocking The Next Targets of MCX Gold, Crude oil, & Aluminium

Here I had written in clear words, “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”.

It has touched the first target and bounced off to entry-level again. MCX crude oil will keep moving forward until kick at the last TP.

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Unlocking The Next Targets of MCX Gold, Crude oil, & Aluminium

free gold 4hour daily chart tips

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

crude oil tipsBarrier: 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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Crude oil, Nickel, Aluminium & Mentha oil Tips & Updates

free commodity nickel chart & tips

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.

Premium Subscribers: Please login to unlock entry-level and stop loss.

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

free commodity crudeoil chart tips updates

Crude oil has completed all targets in the previous week’s trading sessions.

free commodity menthaoil trading tips chart

Mentha oil has touched the second target.

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MCX Crude oil calls: Profit Booking Time

free commodity crudeoil chart tips updates

Update: Will Crude Oil Hit 5400 Next Weekend?
How many of you bought crude oil nearby 5130 after reading my article?

I had written in bold words, “…so, what about short-term investors and intraday traders? If you look into 4 hours chart, it seems bullish from here. Crude oil is trying to break the resistance trendline. Whenever that the resistance trendline break, then we may see the prices at 5300 – 5400+“.

It has touched the first target.
For Free Subscribers: Safe/intraday traders can book full profit here.
And if you’re a premium subscriber, read continue.

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