Daily View

DAILY VIEW

COMMODITIES (MCX)

	GOLD	SILVER	COPPER
EOD Price	INR 29528	INR 47900	INR 459
Minor Trend
·   Trend Direction	Up	Up	Up
·   Nature	Cyclic	Cyclic	Cyclic
o If Cyclic – cycle direction	Rising	Rising	Rising
·   Current position	Near cycle bottom	Near cycle bottom	Near cycle bottom
·   Expected duration	Uptrend may last 2 w, current prices may fall 1-2 days	Correction – 1-2 w
·   Expected Range
o Downside	29500 – 29050 – 29000	45000 – 43000	458 – 456 – 450 – 445
o Upside	29800 – 30000 – 30370 – 31300	48500 – 49000 – 50600	460 – 463 – 467 – 472
·   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. If today it remains above 48500, it will be bullish	Price is near cycle bottom and if it fails to rise, it will start trending down. If it closes below 456, it will indicate end of uptrend.

CURRENCIES

	DX	EURUSD	CADUSD	USDJPY	EURCHF
EOD Value	79.989
Minor Trend
Direction of trend	Down
Nature of trend	Down
Current position	?
Expected duration	?
Expected Range
Downside	80 – 79
Upside	80.7 – 81.15 – 81.7 – 82.3
TRADING
New Signal	-
Open Position	-

Remarks:

All buy/sell signals are based on EOD prices