Daily View

COMMODITIES (MCX)

	GOLD	SILVER	COPPER
EOD Price	INR 30215	INR 49171	INR 456.5
Minor Trend
·   Trend Direction	Up	Up	Up
·   Nature	Cyclic	Cyclic	Cyclic
o If Cyclic – cycle direction	Rising	Rising	Rising
·   Current position	Price spiked to a very short cycle peak	Exhaustion of current rise, price is pulling back	Price is pulling back
·   Expected duration	Down – 1-2 days	?	Pullback – 1-2 days
·   Expected Range
o Downside	29800 – 29500 – 28800 – 26000 – 23000	49150 – 45000 – 43000	457 – 454 – 440
o Upside	30000 – 30500 – 31800	50700 – 52000 – 55000	460 – 471 – 478
·   Threat	pullback may convert to a down trend	pullback may convert to a down trend	pullback may convert to a down trend
TRADING
New Signal	Sell	-	-
Open Position	-	-	-
Analysis	Price is at cycle bottom which started in July, and if it fails to rise, it will start trending down. It must go above 30600 to maintain uptrend. If it closes below 29500, it will indicate further fall.	Price is near cycle bottom and if it fails to rise, it will start trending down. It must go above 50800 to maintain uptrend. If it closes below 49150, it will indicate further fall.	Price is near cycle bottom and if it fails to rise, it will start trending down. It must go above 464 to maintain uptrend. If it closes below 454, it will indicate further fall.

 CURRENCIES

	DX	EURUSD	CADUSD	USDJPY	EURCHF
EOD Value	80.44
Minor Trend
Direction of trend	Down
Nature of trend	Down
Current position	Near bottom
Expected duration	Up- 5-10 days
Expected Range
Downside	80.15 – 79
Upside	81 – 81.7 – 82.3
TRADING
New Signal	Buy
Open Position	-

 Remarks:

All buy/sell signals are based on EOD prices
SILVER: Silver opened near SL and was below it for most of the time, so we have no position here.