silver chart

mcx silver hourly chart 

This is the hourly silver mcx chart & you can see symmetrical triangle developed. Break out point is as a rule, highest & lowest price within the triangle.

One can take position after breakout. Thanking you, Jay Shriram. 

Update 1, 22nd mar, 06.00 p.m.

Yes, it happened as happens usually after coil creation. Huge jump from 40800 to 41300. Price broke out at 41221 and entered in bullish territory.

Currentally silver is in hands of hedge funds and bank's at comex. so trade with strict trailing sl. that's all what I can say about this commodity. We booked heavy losses after fed rate hike. Some days ago. Jay Shriram.

Update 2, 25 th March, saturday

mcx silver hourly chart

As seen in the chart, after complision of symmetrical triangle ( coil ) pattern price broke 41221 mark, which was the confirmation of upward breakout. After that it went up to 41600 & closed on 41500 mark positively.

Now next resistance is 42000, that means price can go up to 42000 mark without any major resistance. On down side 41200 will play a role of support line.

This is how technical analysis help us to predict price movements. I love triangle pattern's because these are perfect tool to predict future movement.

I am closing this post now. NO further updates will be there. Enjoy safer profits. Thank you, Jay Shriram.

Update 3, 27 march, 07.30 pm

Final tgt achived, CMP is 42,100. Enjoy, Jay Shriram

Zinc analysis

zinc mcx daily chart

     Here I attached daily mcx zinc chart. I used bollinger band and fib retracement tool to judge the trend 
and resistance.
     You can see that last candle is closed above middle line (red), which is bullish sign and the price can go upward within the bollinger band. 
    Next resistance is placed at 190, which is 61% fib retracement of prior fall from 198 to 176. If the 
price cross and sustained above it then it can go towards 194 mark which is again 78% fib retracement.
     But I look it is very dificult to happen because after 204, there is 198 mark as a prior lower high, 
which will work as solid resistance. Upper line which is resistance line of bollinger band is also placed at 194.

     conclusion -- Those who stuck in short position should cover their short position if the price moves upward in monday trading session. Wait for some time, let the price go upward and place sell order again in sl format order ctc. If zinc price return back, you will automatically enter again in short position.

     Thank you, Jay Shriram

Update 1,22nd Mar, 05.21 pm

This is the result. Zinc made a coil, i.e. symmetrical triangle & moved down to kiss 183 mark. After that it took some retracement and return upward towards base line of triangle. 

188.60 is the highest price within this triangle, which is also 78% retracement of the prior fall from 193 to 176. 

So, one can easily see lower low's -- lower high's formation in making on this zinc hourly chart. Thank you Jay Shriram.

Zinc fundamental's

Zinc on MCX settled down -1.21% at 183.90 as pressure seen after the China's economic growth is likely to slow to 6.5 percent this year and cool further to 6.3 percent in 2018, the OECD said, though exports are set to pick up as global demand strengthens.

Also prices seen pressure after the update that Peru's Zinc production output increased by 11.3 percent in January from the same month a year earlier official data showed on Tuesday.

Also China's economic growth is likely to slow to 6.5 percent this year and cool further to 6.3 percent in 2018, the OECD said, though exports are set to pick up as global demand strengthens.

While on support side Peruvian zinc and silver miner Volcan said it had declared force majeure on its mineral deliveries after heavy flooding disrupted transportation from the country's central region to the Pacific coast.

Heavy rains in Peru have disrupted train transport of minerals, and the train line could take at least 15 days to fix. The region is home to Chinalco's 300,000 tonne-per-year Toromocho coppermine, and a zinc and silver mine owned by Volcan.

Final update, 27th March 2017, 07.42 pm

Look at the attached chart, zinc CMP is 178. Profit of more than 6 points, that means 30000 rupees in single lot. 

silver, new technical's after yesterday's gap up

You can see gap up opening on this 4 hourly mcx silver chart. This gap is created because of the Fed rate hike event. Banks and hedge funds were with the strategy of ," sell on rumours & buy on facts." This strategy push up price heavily on comex. At the same time MCX was closed. Result is that at the morning, on the opening bell, Silver price on MCX updated itself to the comex price creating a gap.

But now, it interesting to see that if the price can maintain the gain ?. Gap shown in ellipse. Bollinger band also made a big gap size. That suggest us a range for silver price movement in future. Half of gap is filled by price. Lower end of this gap is placed at 39300 mark. Price is trading on the moving line average. when the price pulls back (higher as in this case of rate hike ), within the downtrend, if it stays below the middle band and then moves back to lower band it shows a lot of strength. In attached chart we can see that,' the price is trading on the middle band, if it break the red line down side, then it can reenter bearish trend again and move towards the lower end of bollinger band. Lower line of bollinger band is placed at 39300 around.
Now another aspect to think about is gap shown in ellipse. Lower end of this gap is placed at 40100 mark. If silver price break this mark downward, only then it entered in perfect bearish territory . Till then it can move here and there, trying to consolidate itself.

sell silver @ cmp 40360

sell silver @ cmp 40360 with the sl of 40700 for the tgt below 40000.

Update 1 , 12.47 pm, 14 th mar,

daily chart, silver.

silver broke major support of 40500, it sustained below it for few hours. Now next tgt is Rs 38,300. Jay Shriram.
You can read full technical analysis on investing.com site, I wrote there, lack of time I have, so link is here .... https://in.investing.com/analysis/silver-broke-major-support-of-41500,-moving-towards-38300-mark-200178753?

Update 2, 01.02, 15th Mar 2017.

Today silver price hit our first tgt which is below 40000 mark. see the chart, next is rs 39,500. We are using trailing sl method to protect profits. Jay Shriram.

Update 3 , 09.45, 16th Mar 2017.
Sudden spike in comex silver, is up in late trading. I dont know what was actually happen ? May be some contract change or something else. Searching for it. candles are showing comex silver and line is showing mcx silver price. thank you.  The 25 bps rate hike—from 0.75% to 1%—by the US Federal Reserve signals more vigilance as inflation approaches its target

silver gap, update 4, 17th Mar, 11.38 am

You can see gap up opening on this 4 hourly mcx silver chart. This gap is created because of the Fed rate hike event. Banks and hedge funds were with the strategy of ," sell on rumors & buy on facts." This strategy push up price heavily on comex. But it interesting to see that if the price can maintain the gain ?.

 Gap shown in ellipse. Half of gap is filled by price. Lower end of this gap is placed at 40100 mark. If silver price break this mark downward, only then it entered in perfect bearish teritorry . Till then it can move here and there, trying to consolidate itself.

copper --- nearing its death

Nithing to say in words, look at the chart and judge it.
head and shoulder pattern on copper daily

NG - Bearish Harami is developing

Bearish Harami is developing on NG daily chart.

7th Mar 2017, 07.00 pm

You can see a large green bullish candle showing yesterdays price movement of NG. Last little red candle is showing today's price movement. Yesterday high was around 197 and low was around 188. Today's high low is 193 and 189 around. 

Price is gapped down today. today it opened at 193 while yesterday close was 196. This gap down opening is important aspect for creating bearish harami. Till this moment NG price is unable to move higher in respect of yesterdays green candle. This again confirm that, bearish harami is developing. 

Ng is fundamentally very sensitive to weather forecast, something like snow storm is on the cards. But is is factored in.

One can think about all this and take decision. Thank you.

Update 2, 9th Mar 2017, 11.59 am,

One of my blog reader Mrs Madhuri Yadav sent me this chart and some writing. It is very correct that, before bearish harami candles appear on the chart, there was a doji. Read what she says.

Bearish reversal patterns can form with one or more candlesticks; most require bearish confirmation. The actual reversal indicates that selling pressure overwhelmed buying pressure for one or more days, but it remains unclear whether or not sustained selling or lack of buyers will continue to push prices lower. Without confirmation, many of these patterns would be considered neutral and merely indicate a potential resistancelevel at best. Bearish confirmation means further downside follow through, such as a gap down, long black candlestick or high volume decline. Because candlestick patterns are short-term and usually effective for 1-2 weeks, bearish confirmation should come within 1-3 days.

update 3, 9th March , 12.17 pm
it is interesting to see the fight between bulls and bears. Winter season ends but still bulls are in hope that gas demand will pick up. The are taking support from weather forecast published on 7th march, which indicates some snowfall and little storm somewhere in North East America.But price action shows that any upward movement in NG price cant sustain at high, soon it tumble down. How many times this can happen ?? Or bulls are expecting new big rally is going to start? New storage season is started. 

Shorting NG is work of cool minded guy. Need lot of patience to earn from NG.
Nothing to say more, today is Thursday and there will be lot of volatility at evening because of data.
thanking you, Jay Shriram.

sell silver @ cmp 42380

sell silver @ cmp 42380 for the tgt of 41600 with the sl 42,900. Jay Shriram.

You can see that, silver is in down trend. and recent up move towards 42790 was just a reaction or retracement of fall. On down side, there is a support of 41980 and after that, only support placed @ around 41,500, which is shown in the second chart. ( silver daily ). 
This is only for study purpose. If you like it, then subscribe through email, follow me on twitter and google+ for timely updates. You can trade it on paper only and enjoy it. Jay Shriram.

update 1 , 08.45 pm, 7th Mar.

Friends I booked whole profit at cmp 41930 and exited the trade. 

Update 2 --- tgt achived. 8th March