website: contact no: 0413-4200100 email id: … · 2019-01-10 · 2017 apr jul oct 2018 apr jul oct...

32,00

10 January, 2019

Bottom-Line: trend for Gold and Silver is sideways to positive, for MCX Copper prices are at crucial juncture and MCX Crude prices can move towards higher levels.

MCX Gold Continuous Daily chart:

GOLD-1M - Daily 09-01-2019 Open 31633, Hi 32023, Lo 31633, Close 32001 (0.8%) EMA(Close,50) = 31,333.32

c e

33,000

32,500

(b)

(d)

(f)

(i) c

a

b

a

(ii)

0.0%

50.0% 61.8% 76.4% b d 100.0%

32,001 0

31,500 31,333.3

31,000

30,500

30,000

29,500

29,000

(e)

(g) 2

28,500

28,000

27,500

(c)

wave 3 is corrective as it is part of Ending Diagonal 2017 Apr Jul Oct 2018 Apr Jul Oct 2019

27,000

26,500

GOLD-1M - RSI(14) = 61.50

70 61.503

30

2017 Apr Jul Oct 2018 Apr Jul Oct 2019

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MCX Gold Feb 60 min chart:

Wave analysis:

In previous session MCX Gold a flat opening but managed to take out its resistance level of 319850 levels and surged towards higher levels of 32000 and closed on a positive note.

As shown on daily chart, wave f looks to be forming Flat correction pattern which is further subdivided into wave a-b-c. Currently wave b is ongoing on upside which has retraced more than 61.8% of wave a move which is a basic necessity of this pattern.

As shown on hourly chart, wave (x) has completed on downside and wave (a) is still ongoing on upside. We are showing its 50-periods EMA which has managed to capture major trends of this stock and it is now acting as support keeping the tone positive

In short, Gold trend remains range bound to positive and move towards 32200 can be expected as long as 31900 level is intact on downside.

50

7 2019 December 2018

31 24 17 10 3 26 19

Relative Strength Index (80.1844)

32300 32250 32200 32150 32100 32050 32000 31950 31900 31850 31800 31750 31700 31650 31600 31550 31500 31450 31400 31350 31300 31250 31200 31150 31100 31050 31000 30950 30900 30850 30800 30750 30700 30650 30600 30550 30500 30450 30400 30350 30300 30250 30200 30150 30100 30050 30000

(g) z d

(e)

(c)

(f)

a (b) (d)

(a) (b)

(b) (x)

(a)

(c)

e (c)

M_GOLD-FEB (32,048.00, 32,100.00, 32,031.00, 32,052.00, +57.00)




70

MCX Silver continuous daily chart: SILVER-1M - Daily 09-01-2019 Open 39270, Hi 39642, Lo 39237, Close 39521 (0.5%) EMA(Close,20) = 38,565.25

45,000

(x) (b)

44,000

43,000

(x)

(f)

42,000

(a)

(c)

(d)

(f)

(e)

(g)

(a)

(b)

(c)

(d)

(e)

(x) 100.0%

76.4% (g)

61.8%

a

b

d 39022.99

c 38224.17

f

e

41,000

40,000 39,521

39,000 38,565.3

38,000

37,000

36,000

0.0% g (a)

35,000

34,000

SILVER-1M - RSI(14) = 66.31 66.3066

30

Apr Jul Oct 2018 Apr Jul Oct 2019




Silver Mar 60 mins chart:

Wave analysis: Silver in the previous session had a subdued movement for the first half of the session it was post 8 that prices witnessed strong buying taking out the pivot resistance and closed near high the momentum here on becomes crucial to watch. As shown on the daily chart, prices are near its 5 days breakout range and it will be crucial to see if prices manage to protect the bars low. The RSI indicator is in the overbought zone so some sideways action cannot be ruled out. On the downside an important support is placed near 39000. As shown on the hourly chart, looking at the rise in the previous session the internal structure of wave c is Unclear and wave c looks to be ongoing. We are showing ROC indicator which is a momentum indicator on the chart we are also seeing divergence on the indicator however as of now there is no price confirmation so as long as we do not see break of important support levels near 39200 one should stay with the ongoing trend and leverage less. In short trend for Silver remains sideways to positive and a close above 39630 is required to continue the upmove and can take prices higher towards 39800. On the downside an important support is placed near 39300 levels.

M_SILVER-MAR (39,591.00, 39,643.00, 39,591.00, 39,643.00, +96.00)

0.0% 39500

23.6% a 39000

c 38.2% 50.0%

b 38500

61.8%

f 38000

a 37500

b 100.0%

x b

37000

a

36500

c g (a)

36000

35500 4

3

2

1

0

-1

-2

-3

7 2019 December 2018

31 24 17 10 3 26 19

Price ROC (0.69598)




3,500

a

MCX Crude daily chart: CRUDEOIL-1M - Daily 09-01-2019 Open 3525, Hi 3705, Lo 3525, Close 3686 (6.1%) EMA(Close,20) =

X

(g) c

6,000

0.0% 5,500

(c)

(e)

a b x bd

b

5,000

(b)

50.0%

61.8%

76.4%

(c)

(e)

(f)

(g) (a)

(x)

(b)

(d)

a

c c e (f)

4,500

4,000

3,686

3,437.52

(a)

(a)

(1c0) 0.0% (e)

Y

(b)

(d) Diametric Pattern

3,000

2,500

Apr Jul Oct 2018 Apr Jul Oct 2019 CRUDEOIL-1M - RSI(14) = 58.14

70 58.1425

30

Apr Jul Oct 2018 Apr Jul Oct 2019




M_CRUDEOIL-JAN (3,655.00, 3,661.00, 3,651.00, 3,658.00, -35.00) 4200

4150

4100

d

c x 100.0%

f

e

61.8% g

50.0%

38.2%

23.6%

0.0%

a

4050

4000

3950

3900

3850

3800

3750

3700

3650

3600

3550

3500

3450

3400

3350

3300

3250

3200

3150

3100

3050

3000

2950

2900 90

80

70

60

50

40

30

20


MCX Crude Jan 60 min chart:

19 26 3 10 17 24 31 7 2018 December 2019

Wave analysis: In the previous update for Crude we mentioned that “Long positions can be created above 3515 levels for move towards 3600 followed by 3650 levels. On downside 20 period EMA can be maintained as immediate support.” BANG-ON! Prices moved exactly as expected making high near 3700 levels.

As shown on daily chart, MCX crude continued its buying streak for straight 6th consecutive day. Prices On Wednesday made big bullish bar on daily basis indicating strong hold of bulls. Further break above Wednesday’s high can extend its rally towards higher levels.

As shown on hourly chart, prices are forming Flat Correction pattern as wave b retraced more than 61.8% of wave a. Further break above 3710 can extend its rally towards 3800 levels whereas on downside 20 periods EMA can be maintained as immediate support.

In short, trend for Crude is positive. Prices are expected to continue its momentum on upside if prices manage to break above 3710 levels to capture move towards 3800 levels. On downside 20 periods EMA can be maintained as immediate support.




MCX Copper Daily chart: COPPER-1M - Daily 09-01-2019 Open 415, Hi 421.2, Lo 414.55, Close 417.25 (0.9%) EMA(Close,25)

iii g

510

500

490

e a

c c

a b

a x x

b b

c x

d f y

i ovf c

480

470

460

450

440

430

419.847

420 417.25

iv

a c w

410

400

390

COPPER-1M - RSI(14) = 47.14 70

47.1377

30 Oct 2018 Apr Jul Oct 2019

2019 Oct Jul Apr 2018 Oct




MCX Copper Feb 60 mins chart:

M_COPPER-FEB (417.20, 417.55, 416.30, 416.90, -0.45)

d f

450

445

440

435

c 430

e b

425

420

g 415

a 410

405

400

c 395

Waves Analysis:

70 60 50 40 30 20

7

2019

In the previous report we mentioned, “Break above 415.70 is required for prices to move higher towards 420 levels. The mentioned scenario stays valid as long as 409 are intact on the downside.” BANG ON! Prices moved in similar manner and made a high near 421 levels.

As shown on the daily chart, prices witnessed a thrown-over but managed to re-enter the channel and are now witnessing an attempt for positive reversal.

As shown in the hourly chart, copper in the previous session had a gap-up opening and managed to sustain the gap as it traded in green throughout the session. The wave theory suggest that wave x looks to be in matured stage, if we see prices further lower that will confirm termination of wave x on the upside and being wave a.

In short, for copper break above 421 can take the prices higher towards 425-426 levels while a move below 415 can take the prices towards 410 levels.

3 December

31 24 17 10


x




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