An inverse head and shoulders, also called a “head and shoulders bottom”, is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of security meets the following characteristics: the price falls to
Wishing you all a very Happy Gudi Padwa and Navratri. Weekly Commodity Samachar- Subscribe now for live updates Russia reported that it sold 1 ton of gold from its reserves and on the other hand, Ukraine’s forex reserves are in the same condition as they were before the war. This
Investors are waiting for the outcomes of Fed Reserve’s Jackson Hole Economic Symposium. However, their decision and comments will impact the volatility of market as a whole. Thus, turns out a game changer for all the commodities. Therefore, coming week would be a decider of the trend. Moving further, there
Gold edges down on 27th August thereby rolling the table towards cautionary mode. Investors are now cautious and their main focus lays down with Jackson hole. Precisely, Jackson Hole is a place in Wyoming where all the big financial personalities like central bankers, academic & financial market participants, finance ministers
Silver looks positive as bottom fishing happens from lower levels We clearly indicated in our weekly commodity Samachar that we will not sell Silver at lower levels because our bias is highly positive in it. This week, Silver shot up more than 1500 points. Not only this, Comex Silver is
Today, the US releases retail sales numbers. US retail sales m/m drop to -1.2% which is below the forecast of -0.2%. This data gave a negative impact on base metals and the dollar. On the other hand, Core retail sales fall to -0.4%. Copper looks scary as forming Head and
From the last three consecutive sessions, oil prices are rising. Whereas natural gas is reflecting a range-bound trend in the commodities market. The Biden Government delivered a statement stating to call an OPEC in order to increase the production of oil. Thus, to control the battle of climbing gasoline prices
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In the last contract, we have seen good volume trades in Copper and traded with positive bias. In our positional view, we clearly indicated to buy Copper around 696 levels. The contract is changed and now work on the fresh continuation chart. Watch our update on Copper Support at 748—743
On Friday, we clearly recommended support and resistance level in Commodity Samachar. Both levels were not executed in Gold and Silver and traded within a range. Below are the updates on MCX Gold and XAU/USD. Bottom fishing likely to happen at lower levels. Now, what next??? Gold has support at
