Gold Price Short Reversal in Progress
As per the chart, MCX Gold will keep moving upward for 45500 to 46000 after a short reversal (43800 – 43500 levels).
Although COMEX Gold futures (CFD) need to breakout/close above to the last candle to continue the uptrend (for 1720 – 1740+ levels).
For a short period, we can expect 1650 – 1600 levels.
Remember, Never sell above 1691.7 level.
How many of you bought the gold? We have updated many times that the gold is bullish. Links:
February 9, 2020: Gold & Silver Technical Charts, Deep Research, & Tips
January 26, 2020: Gold – Technical Charts, Deep Research, Reports, & Tips
January 06, 2020: Exclusive Update: MCX Gold, Silver, Crude oil, & Nickel Tips
Next Move of Gold?
We can expect some down moves from the gold. It could slip up to 42260 – 42060 levels. Before that, it may try to test the 43000 levels.
Crude oil report is available for the premium members only.
Have you traded on last free natural gas live intraday call? I hope you made a good profit on it. Our premium subscribers also sold. Look out the screenshot below:
Gold and silver are moving as directed in a weekly report. Hence, if you want to know what will happen next, read that reports now.
Read here: Gold & Silver Positional Tips & Reports
What’s next in crude oil? This week we are going to send free/premium intraday trading alerts on gold, silver, and crude oil. Hence, keep subscribed!
Technical Perspective of Jeera
NCDEX Jeera may jump up to 14200 levels …but that doesn’t mean it will start moving upward until we see consecutive closing prices above it.
Bearish pressure will keep coming up to 13600 – 13260 levels.
Remember, don’t mess after crossover of 14200 levels.
Where’s the bottom of Guar Gum Futures?
Guar Gum’s strong support is at 6760. It has already broken in the previous trading sessions. You can start selling it after 6560 breakouts. This level will fall the prices up to 6400 – 6260.
But keep in mind, stay away after 6760 levels. Why? I will let you know in the next NCDEX Agri commodities report.
MCX Gold Looking Upside But Is It?
If gold breakdown a flat resistance line, it will fly in the sky. Gold will pressurize by speculators up to 41400 – 41600 – 42000 levels.
Remember, it could happen by a complete breakout of a flat resistance line only.
Hurdle or ascending support trendline breakout indicates to stop buying. It will fall the prices up to 39560 – 39260 level.
For trend identification, check this 15 minutes intraday chart of gold. Keep eyes on a lower trendline before initiating a position. Further information will update soon for the premium subscribers only.
Here’s the One Silver Chart to Watch
Gold can influence the silver price upside up to the upper trendline. As per the technical analysis, currently, it’s under downtrend. As described in the above chart, It may keep falling for 45600 – 45000 levels.
Look at the many times tested level, this can drag the silver price up to 46400 – 46600+.
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