Daily View

COMMODITIES (MCX)

	GOLD	SILVER	COPPER
Last Price	INR 29820	INR 49152
MINOR TREND
·   Trend Direction	Up	Up
·   Nature	Cyclic	Cyclic
o If Cyclic – cycle direction	Rising	Rising
·   Current position	Exhaustion of current rise, price is pulling back	Exhaustion of current rise, price is pulling back
·   Expected duration	Pullback – 1-3 days Up – till 1-4 Oct	Pullback – over Up – …?
·   Expected Range
o Downside	29400 – 28800 – 26000 – 23000	45000 – 43000
o Upside	30000 – 30500 – 31800	50800 – 52000 – 55000
·   Threat	pullback may convert to a down trend	pullback may convert to a down trend
TRADING
New Signal	Wait for signal	Buy, SL 49150
Open Position	-	-
Analysis	Price is at cycle bottom and if it fails to rise, it will start trending down. It must go above 30600 to maintain uptrend. If it goes below 29400, 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.

 CURRENCIES

	DX	EURUSD	CADUSD	USDJPY	EURCHF
Minor Trend
Direction of trend	Down
Nature of trend	Down
Current position	Near bottom
Expected duration	Expect bottom in 1-3 days
Expected Range
Downside	80.20 – 79
Upside	81 – 81.7 – 82.3
TRADING
New Signal	Wait for bottom or buy near 80.2 with SL 80.15
Open Position	-