MCX Silver: Intraday trading strategy & tips

free commodity silver 15m chart tips

This is MCX Silvermini 15 minutes chart. I have used here moving average, Fibonacci, DMI, and RSI.

Fib Levels: T 71496 and B 65664

Silver will try to touch 0.382 (67892) from here. It will act as resistance. Moreover, there is a 50 MA. If silver breaks both, it will fly from there and touch 68580 levels. Intraday traders can play between it.

But if it takes a U-turn from 50 MA and breaks the 20 EMA, be ready for the following targets: 67060 – 66600.

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MCX Gold & Silver Spot Prepare For Another Price Advance

free commodity gold daily tips chart

Determining the MCX Gold Price Next Big Move

According to this chart, gold has started falling from August month. Doji appearing in the last trading session. It’s signaling a possible reversal. If gold follows the dynamic resistance, we may see a continuous downtrend. That can be up to 0.5 (47300) to 0.618 (45200) of Fib retracement.

Fib retracement (reverse):
Swing High: 56191
Swing Low: 38400

Here’s ADX less than 25, and +DI is above the -DI . Additionally, 200 MA & 50 MA is throwing uptrend signals. If we follow the moving average, gold may try to hit 51000 – 51990 (0.236) levels.

Intraday traders should watch dynamic resistance before entering.

free commodity silver spot chart signals

Silver Follow Up & Future Predictions For 2020 & 2021 – Part I

Here I have used Gann fan and Fibonacci on Silver sport to identify the current trend.

Fib Retracement:
Top: $29.90
Bottom: $11.64

If silver remains above the 78.6% level, the target will be $27 – $27.8

And if it goes inside 8/1 or remains below 78.6% level, we will see the silver price at 0.618 value of fib retracement. The day traders can use the following levels as targets: $25 – $24 – $23

According to DMI, ADX is less than 25 but turning up. And +DI is signaling an upside rally. Technically, silver is a further advance.

For advance traders, watch significant releases or events that may affect the movement of gold , silver & crude oil:
Monday, Dec 21, 2020:

  • 12:00 – Gold Index

Wednesday, Dec 23, 2020:

  • 3:00 – API Weekly Crude Oil Stock
  • 21:00 – Crude Oil Inventories, EIA Refinery Crude Runs (WoW), Crude Oil Imports, and Cushing Crude Oil Inventories
  • 21:30 – Natural Gas Storage

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MCX Silver Trading Strategy for the Intraday Traders

free commodity silver tips chart

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.

If You Own MCX Copper, Look Out Below

free commodity copper tips chartClick 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?free cpo tips

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.

Accurate entry level, stop loss, and targets are available for premium members only.

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Elliott Wave Vision on MCX Silver

free silver hourly chart tips

Silver made a bullish Elliott wave . The fifth wave is including a diagonal. After the fifth wave, there is an ABC correction. Silver can move upside to 62840 – 63560 levels.

Expected C range: 60565 – 59200 – 57045

The correction will over at 63560 to change the current trend. And upside rally will resume for the levels of 65000 – 66000 – 68000+.

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MCX Crude Oil Hourly Charts In-Depth Analysis

free commodity crude oil chart tips

FOR THE DAY TRADERS:
MCX Crude oil has made a symmetrical triangle pattern, and that indicates a bearish continuation. At present, its price is moving inside the triangle pattern. That’s a consolidation area. The prices will keep playing sideways here.

Intraday traders can sell or buy based on control price. The last expected stop is at E. So, we may see crude oil at/below 2840 – 2820 level.

FOR SHORT-TERM INVESTORS:
This symmetrical triangle base range is 378 points. So, the game will begin whenever crude oil will breakout the triangle pattern.

Upper breakout’s targets: 3130 – 3200 – 3280+
Downward breakout’s targets: 2610 – 2500 – 2460

Beware to tail, fakeout, and excess. Accurate entry-level, target and stop-loss is available for the premium members only.

Base Metals Trading Calls Update: MCX Zinc Ready For Another Rally Attempt

Yesterday I had an updated intraday trading call on Zinc. It has made a high of 194.55 level and closed at 194.35. Will it reach the first & second target or not?

Bullion Update: MCX Silver’s Next Target 65200 by the Elliott Wave

I had updated an intraday call on the silver the day before yesterday while its price was running nearby the 61500 levels. It has reached the first target before collapsing. So, what are you expecting ahead?

Will silver hit the next targets or keep falling? To get more information about MCX Trading Alerts, subscribe now.

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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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