Daily View

COMMODITIES (MCX)

	GOLD	SILVER	COPPER
EOD Price	INR 30726	INR 49680	INR 470.05
Minor Trend
·   Trend Direction	Up	Up	Up
·   Nature	Cyclic	Cyclic	Cyclic
o If Cyclic – cycle direction	Rising	Rising	Rising
·   Current position	Rising from bottom	Price is correcting	Rising from bottom
·   Expected duration	Uptrend may last 2 w, current prices may fall 1-2 days	Correction– 1-2 w
·   Expected Range
o Downside	30540 – 30300 – 30000 – 29800 – 29500	48000 – 47700 – 45000 – 43000	465/66 – 460 – 455
o Upside	31000 – 31400 – 31800	50800 – 52000 – 55000	478 – 481 – 483
·   Threat	Uptrend can weaken below 30540 – 29800 – 29500	correction may convert to a down trend
TRADING
New Signal	-	-	-
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 remain above 30500 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. If today it remains above 49500, it will be bullish	Price is near cycle bottom and if it fails to rise, it will start trending down. If it closes below 457, it will indicate end of uptrend.

CURRENCIES

	DX	EURUSD	CADUSD	USDJPY	EURCHF
EOD Value	80.377
Minor Trend
Direction of trend	Down
Nature of trend	Down
Current position	Near bottom
Expected duration	Up- 5-10 days
Expected Range
Downside	80 – 79
Upside	80.7 – 81.15 – 81.7 – 82.3
TRADING
New Signal	Buy
Open Position	-

 All buy/sell signals are based on EOD prices

Review: Gold, Silver, copper all bounced from support levels. Gold short cycle finished as expected. Copper touched exact top level as mentioned. DX long exited at 80.5 on TSL (trailing stop loss)