Trade Setup: MCX LEAD, ZINC & NICKEL
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MCX Setups – SILVER, NATURALGAS, ALUMINIUM & More
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MCX Gold & Nickel – Profit Booking Time
Did you read the gold report? If not, click the below link.
22 Feb 2022: MCX Gold’s Bullish Mode Activated
While the gold price at 50532, I had written, “we will see the gold price above 51160 – 51740“.
Today, it has touched the first & second target. Who bought it? Profit per lot: Rs.1,20,800
I have updated a full report of Nickel on Feb 6, 2022. Did you read it? If not, click the below link:
2020’s Uptrend Channel Is Everything For MCX Nickel
I had written, “It’s a sign for a buy signal. But intraday or short-term investors should confirm that breakout before proceeding. And they must look out for candle’s fakeout. Afterward, be ready for the targets of 1800 – 1840 – 1876+“.
Today nickel has touched all targets. Who bought it? The target was 133.4 points. Profit per lot: Rs.2,00,100
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2020’s Uptrend Channel Is Everything For MCX Nickel
MCX Nickel is following the above uptrend channel from 23 Jan 2020. And making a good trade opportunity for commodity traders. Nickel’s upward trend is not over yet. But we may see a downfall below the control price, and it can be up to 1686 – 1620.
But what happens if it breaks the control price?
It’s a 100% sign for a buy signal. But intraday or short-term investors should confirm that breakout before proceeding. And they must look out for candle’s fakeout. Afterward, be ready for the targets of 1800 – 1840 – 1876+.
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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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