MCX Gold Intraday Pullback Before Acceleration Lower

gold intraday calls hourly chart

Breakout Range: Approx. 3300 points
Hurdle: 50600 level

At present, gold is trying to recover the previous loss. The support level has broken (flat lower trendline), and it becomes resistance now. We may see the continuation of the downtrend from there. That could fall to the following levels: 49360 – 48760 and below.

Lionheart traders can hold for 48000 to 47360.

Please don’t mess after a breakout of reversion bounce off level.

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Gold, Silver, Natural Gas Trading Calls & Updates

Update: Is Gold Price Setting Up for an Uptrend?

Have you read the August 16th newsletter of Gold?
If not, click here.

I have written, “Don’t forget to follow the control price (CP). If gold breakdown CP, it may fall for 51360 – 51000 – 50500 – 50000 levels. Watch out the selling level on the chart.”

Yesterday gold has touched all targets.

Is silver ready for the second target?

free commodity silver chart tipsDid you read the September 9th article of Silver?
Click here to read now

I have written in bold words, “…if you look at the volume and S RSI indicators, it is planning for a downtrend. And at present, silver is very close to the control price line. Hence, a downtrend may start from this point. A breakdown of control price can initiate a new fall for 61000 – 55785 – 50570 levels.”.

So, yesterday silver has touched the first target. If it will remain under the retracement level of 38.20%, we may see continue downfall.

If it remains under the 38.20% retracement level, it will keep falling for the next target.

Please note that silver playing at March 2020 uptrend channel (support). Hence, don’t sell above it, Because it will start to rise from there up to 23.60% (67445).

Update: Natural gas Struggling at Strong Support

free mcx naturalgas chart tips

Have you read the natural gas intraday tips report?
Click here to read it now

I have written, “for safe traders, short positions can be initiated after 170 levels.
Targets: 167.6 – 165 – 162.6 – 160“.

Natural gas has touched all targets as well. What else you want?

The next report about MCX base metals commodities (Aluminum, Copper, & Nickel) is coming soon. Stay connected!

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Crude oil Forecast: Using Fibonacci Retracement Levels

free crude oil chart tips

Was That the Top in Crude oil?

Crude oil price is running nearby a 78.60% retracement level, and it can act as support. Hence, trade with the trend: sell positions executed around 78.60% retracement level area for the targets of 2660 – 2600 – 2560 – 2500.

For long-term investors: they can hold for 2410 – 2320 levels.

Don’t sell crude oil above the 2740 level. It can start raising for 2980 – 3260 levels.

Gold and Silver Tips & Updates

Did you read the last report of gold? If not, click here.

Hurdle: 52260
From this week, gold may start collapsing. And it should be run for the 50000 levels.

Don’t draw any position above the hurdle. ‘Cause it will fly from there.

Click here to read the silver detailed report.

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How High Will MCX Silver Go?

free commodity silver chart tips

By following the symmetrical triangle (ST), we can say that if candles will consecutively crossover the upper line, the silver will hit the following targets: 72460 – 75360 – 77800 – 80000+

According to the ST, the final targets are 86700 to 88000 levels.

But if you look at the volume and S RSI indicators, it is planning for a downtrend. And at present, silver is very close to the control price line. Hence, a downtrend may start from this point. A breakdown of control price can initiate a new fall for 61000 – 55785 – 50570 levels.

Keep eyes open while it breaks ST upside or downside. It’s a key for the smart traders.

If You Own Commodity Gold, Look Out Below.

Have you read my last gold report? If not, then you must read now: click here

I had written, “The position can be initiate at 52360 (BUY). It will keep moving upward after consecutive closing above to the control price.”

But it failed to close above the control price. Hence, as described in the chart, short positions can be initiate at 51660 levels.

In that article, I had written in bold words, “If gold breakdown CP, it may fall for 51360 – 51000 – 50500 – 50000 levels”.

Do you think gold will touch the last target of the 50000 levels?

Edited: September 9, 2020, 6:19 PM

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Gold & Silver Bulls Beware – Trading Tips

free commodity gold calls hourly chart

Is Gold Price Setting Up for an Uptrend?

MCX gold overall trend is upward. The position can be initiate at 52360. It will keep moving upward after consecutive closing above to the control price. And we may see prices at 53000 – 53660 – 54000 – 54600+ levels.

Don’t forget to follow the control price (CP). If gold breakdown CP, it may fall for 51360 – 51000 – 50500 – 50000 levels. Watch out the selling level on the chart.

free commodity silver daily chart & tips

Silver Breakout Not Confirmed Yet

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Can We Expect GOLD Price Above 56000 again?

free commodity gold tips chart

According to this chart, gold is reversing downward after making an all-time new high of 56191. Its support level is 53800. You can take this level as a hurdle too. We may see a correction up to this after the breakdown of DR.

This dynamic resistance will initiate buying pressure for a short period. We have chances to see 55600 (T1) to 56000+ (T2) levels.

Moreover, for short-term investors, I don’t recommend selling the gold until the breakout of my support. Intraday traders can enjoy price fluctuation, consolidation, and sideways movement.

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