Rising wedge on gold hourly

09/11/2017,
06.03 pm.
gold hourly chart.

Looking at this hourly chart,, we can easily see rising wedge on gold price. Don't take it as higher top higher bottom formation because bottom's are also higher in nature. This is the reason behind my suspect of future fall after price will get resistance at resistance line of the wedge.

Warning -- this is not trading recommendation. I did this analysis for hobby only.

update 1 ... 08.05 pm 

As you can see in the chart, we shorted this commodity nearly at the top i.e. around 1289 dolors. Now it is trading at 1284. So place the stoploss at cost to cost and enjoy the show. thank you.

Update .. 2, 11.00 am, 10/11/2017

Yesterday, we shorted gold at 1289 & placed sl @ the same price mark after price went down towards 1284 below supportline of rising wedge. Price again went up towards 1288.77, but our sl is safe till now. this second day of position and price again hovering below support line of wedge @ 1285. In Indian rupees, for mcx parallel price of entering the trade was something around 29680. CMP on MCX is 29570. SL is safe. So we can book little profit here & maintain sl cost to cost, i.e. 29680. Look @ below given chart of MCX gold hourly. 

This is the MCX hourly gold price chart. Again suggest you to book little profit and place sl ctc.

update 3 , 06.13 pm, 11/11/2017

while entering the gold short trade, we got chance to short it @ Rs 29680 MCX & 1289 dolors as shown in the chart. Yesterday close price was Rs 29471 & 1275 dolors. So friends, book full profit & exit. We got 200 rupees, that means Rs 20000 in single lot. enjoy it, Jay Shriram. 

crude upward breakouut

crude hourly

Tgt 48 dolor, enjoy.

gold & silver, looking bullish

comex gold weekly

weekly comex silver chart

     As shown in the gold chart, we can see that last candle created hammer. Same time price has taken support from trendline. From Decemer 2017 onwards, gold price is in upmove. ( I request you to see the chart very carefully to understand the analysis. ) In last 7 months it went up from 1125 dolor to 1300 high and corrected 3 times making higher lows. Just now, in last week, it corrected to 1230 around. You can see 1230 with the last hammer candle. PRICE RECOVERED SHARPLY FROM TRENDLINE, MADE HIGH LOW & CREATED HAMMER. 

   These higher lows made ascending triangle pattern. Looking at all these things, I strongly recommend positional buy on gold and silver. 

                                                fundamentals

   The primary driver of higher gold prices at this time appears to be the flattening of the longer-dated U.S. Treasury curve. This is likely to continue this week if U.S. economic data continues to come in weaker-than-expected and if Fed officials start to deliver more dovish commentary about the chances of an additional rate hike later in the year.

This week, investors will get the opportunity to react to data on Core Durable Goods Orders, Consumer Confidence, Final GDP and Weekly Unemployment Claims.

Sandwiched between the reports will be a speech from Fed Chair Janet Yellen on Tuesday, June 27.

Pay attention to the movement in the Treasury yields. Lower yields will be bullish for gold. Rising yields will drive gold prices lower, but geopolitical concerns should prevent the market from collapsing.

Silver upward breakout

22/05/2017, 06.06 p.m.

comex hourly silver chart

     Just before few minutes, silver gave upward breakout on comex hourly chart. Resistance was placed at 17.38, on 21st day of May, price tried to break this resistance but failed, making falls breakout. but at the moment it again broke the resistance with good steam. Looking at the move and volume we can confidentally say that price can sustain above the resistance line. so trade accordingly, dont remain short in silver.

     Thanking you, Jay Shriram.

Final update, 22nd May 2017, 08.49 p.m

     we booked only 100 points profit and made exit because I dont like silver movement after breakout. It has lack of steam in it.

     Thank you, enjoy 3000 rupees, Jay shriram.

positional trade --- buy NG --- perfect case of double bottom reversal

19th May2017

Double Bottom Reversal chart pattern.

nymex hourly chart 

     Without any hesitation I am saying that Natural Gas price is about to breakout the Double Bottom Reversal chart pattern. In the morning I posted first image showing levels on twitter and google +. At that time I was suspicious about this chart pattern but finally price broke up from the descending triangle and cross R1 on upside and now it is knocking 3.269 mark for giving breakout.

     Buy it after breakout, targets are huge with the sl of triangle resistance line ( upper line ) which will work as support line as a rule of polarity.

     NG price made double bottom at 3.160 around. In the process it made descending triangle but successfully crossed it upward. Crossed resistance of 3.243 and now knocking final breakout line mark placed at 3.269. If it cross it and sustain above it, trend will reverse on upside. NG has habitual of volatile moves, we can expect big spike in the price.

     Thank you. 

Update 1, 22nd May 2017 

nymex hourly NG 

     Because of blessings of my blog readers, NG is up. analysis proves correct. Yes , I admit that there is something, may be contract change in US mkt, what may be reason, we made some money in that process.

     For mcx, I think NG will try to break 221 level, if it can, then it will enter in new trading zone. Lets see.

Update 2 , 22nd May 2017, 08.23 p.m

hourly NG nymex chart 

     NG is knocking final resistance of 3.432, if it cross this resistance, price on mcx can fly toward 221. currently price is trading at days high level. Rs 221 is upper edge of current trading range of NG. This is second update in single day for MR Gagan Jain.

     Thank you, Jay Shriram.

Inverse H & S on Copper hourly and 30 min chart

mcx copper hourly

     There is inverse Head & Shoulder pattern on mcx copper hourly chart. This is bullish pattern and sign of bullishness in the price. It accures on the bottom of the downtrend. Neckline is placed at 362, by after breakout, tgt is 369. currently price is trying to break neckline. Thank you, Jay Shriram.

Final update

     Finally it happened, took 8 days, some horror downmoves, not in good way at all. But finally gave profits. so good bye, thank you, Jay Shriram. post is closed.

very short term NG

06.00 p.m, 9 th May 2017

nymex NG hourly chart 

     Use it if you can. thank you, jay Shriram.