MCX
Gold Price has broke out the long term trendline T1. Golden crossover of 50 and 200 SMA is formed. These are the strong bullish signs. But price is stuck below resistance level approx. 49080 to 49735. When price will break the resistance zone, after a confirmation we can go long above the level of 50000.
Hi there, I am publishing my technical analysis ideas for educational purpose. All the analysis that I share are basic and simple to understand specially for new traders.
MCX is ready to flyCMP 1671 (Spot)
Entry 1650-1670
T1 1700
T2 1745
T3 1780
SL 1625 (Closing basis)
Throughout the recent fall in benchmark indices, MCX has been strong and positive.
Price is moving in a range on daily charts and today also it took a support on 20sma as well as the bottom of range.
If SL is safe, we can look for an upside of 5-7% in coming days. Keep an eye and trade safe.
Above 1800, sky is the limit.
Zinc (MCX) Short Term ReversalThe stock has reached the lower trend line and might take support and undergo a reversal rally. Trade is supported by Lower Trendline, Lower Bollinger Band and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near all time/swing high.