Transcription
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Hello friends, welcome to your own YouTube channel Vikas Bagadiya. The last trick was fun. The resistance of ₹16,500 that I told you about did not break. And the support of $1,48,000 did not break either. Gold was seen working within a range. Of 11,000 points. On Thursday, a correction of $190 was seen. Where the news spread that Mr. Putin might want to return to the dollar system. On Friday, again, America's Donald Trump, in whom I have full faith. He said that we are sending our flights to the Middle East of Iran. We are sending ships. It would be good to have a regime change in Iran. And we are going to take potential military action. Due to all these things, on Friday, we saw a jump of $12 in gold again.
Whereas if we talk about silver, silver also remained range-bound. The resistance of $869-$90 did not break and the support of $0 did not break. But somewhere comex also appeared to be closing flat. And on MCX, the support of $30,000 did not break, but the resistance of $65 and 270,000 did not break. There was a lack of share momentum. There was indeed a move of 3,000 points. But the closing was in the negative, of 5,000 points.
So for similar insights and ideas where you can be guided through technical charts. News will come, news will go, volatility in the market will increase. But technical levels will help you stay strong in the market. That is why your own channel, Vikas Bagadiya's channel, helps you make informed decisions in the market. If you are new to the channel, like the channel, subscribe to it. Press the bell icon and now let's move towards next week's analysis.
Friends, if we closely monitor the chart of Comex Gold, what happened? It is taking support from a trend line in the daily chart. After the top of wave three was formed, the correction of wave four is complete. Now it is moving in a consolidation to reversal pattern of wave four. It has completed the 0% Fibonacci retracement at 4402. It is currently moving between the Fibonacci retracement zones of 4900-564. MACD is consolidating with a bearish crossover. But no bullish crossover is visible. This is common in wave 4 corrections. ADX has become sideways. We are not seeing any momentum or movement in ADX yet. It's not just that there is no momentum in the market. But if we understand that we are defending the 20-day moving average. The 50-day, 100-day, and 200-day moving averages are still trending up and appear to be supporting Comex Gold.
So what could happen for us this week in the coming week? See, in the coming week, your support cluster will be $4800. As long as we are defending $4800 in Comex, our trend and structure are positive. If we take a dip below $4800, then we can retest $4600 and $400. But if we move above $5170, if Comex closes above $5170, then monitor $521 very closely. What is the .618? This is the golden zone. After firing, the next level that will open on Comex Gold will be 691. Then a top of wave five will be seen forming there. So the momentum will be fast there. So you need to keep these levels in mind.
So this week for MCX Gold, there was a move of 11,000 points but it was defeated. So what can happen in the coming week? First of all, understand technically and price action. It is taking support from a trend line in the daily chart. The supply zones seemed to be over. It was seen defending the zone of ₹14,49,000 and ₹1,50,000 near the demand zone this week. After the carnage on Thursday, it defended and gave a small bounce back on Friday. So what should be your strategy? See, wave three is complete. Wave four is formed. Wave five is loading. When wave five loads, the momentum comes very fast. And what is the target of wave five this time? It is seen to be around ₹1,95,000 of the Eliott wave.
So if we understand gold now, as long as we sustain above ₹148,000 in the upcoming week, the panic button is not triggered. Consider ₹148,000 as your panic button or smart money zone. If it dips below 148,000, then it will go to retest the support of 137, and 137 is a big smart money zone. As long as it doesn't break, the long-term uptrend is intact. So 148 and 137 are big zones. Keep them in mind. Now when will the main trigger come? When we start trading above ₹1600. As soon as gold moves above ₹16,500, big breakouts will be seen. Last week also I told you that ₹16,500 is a big smart money zone. It is a resistance zone this week too. What happened this week? A doji was formed at ₹16,250, and from there, on Thursday, we saw a big correction of 6,000 points in gold. But somewhere here, it is also the Fibonacci 0.382 extension zone. The 0.5 extension zone is at 165. As soon as it moves above 16,500, the first resistance it will face is at 165400, above that are 1672000, 181000, and ₹195,000. These are clusters of zones. MACD is in bearish mode. It appears to be pulling back. But the MACD histogram is swinging. And this somewhere shows that the bear phase is reducing. ADX is sideways. We are not seeing any movement in ADX yet. But as soon as movement is seen in ADX, momentum and volatility will increase. So support has been told, resistance has been made. Note it down, and if you are new to the channel, don't forget to like and subscribe.
Silver, Silver, MCX Silver, volatility remained high this week too, but the market remained between the support and resistance levels told by your brother. So what should be the volatility in silver in the coming week? Telling you quickly. Take pen and paper. Write it down. See, MACD is about to turn from below. The histogram is shrinking. That means the momentum of sellers is seen to be fading. And in the coming course, we will see buying momentum. ADX is still cooling up. ADX is seen falling from above. It has come near the 20 level. Now as soon as some momentum builds up here, we will see high volatility in the market. Silver is making a double bottom near ₹25,000, which is the 0% Fibonacci retracement. Meaning, 225,000 is a complete base for the coming month, for a week or two. As long as this level does not break, do not panic. Now what is going to happen? It is facing resistance between ₹265,000 and ₹270. It is not able to cross this either. Now if the resistance of ₹70,000 is broken, then the fifth wave of the Eliott wave is complete, and the correction of A in the ABC structure is complete. Correction of A is at ₹25,000. B is to be formed. So where will B be formed? It can be seen forming somewhere in 300, 322, 345. If silver closes above 270,000, then on the daily chart, the big gap of Fibonacci is at 327,000. So is silver getting ready for 327,000?
So see, definitely the technical patterns, the formations are being made. But silver moving averages are also supporting on the daily chart. The 50-day moving average and the 20-day moving average are coming from above and giving resistance, hence it is not able to move up. But the 100-day and 200-day are inclined upwards and appear to be supporting. As soon as the consolidation of two-three days ends and we see a decisive closing above 26570 with volume, then we will see that the 20 EMA has come down again and the trend is starting again. So its main place will be seen on the one-hour timeframe when we conquer the 200-day moving average on the one-hour timeframe, which is at 270,000. If it moves above this, then definitely there will be a loss.
So understand now, in the coming week, where is the support for silver? ₹25,000 is the main support. What is the smart money zone? If 2 lakh is broken, then it can retest up to ₹1600 and ₹1400. And what is the smart money resistance zone? It is 270. There is a buffer of 5000 because it is repeatedly taking resistance somewhere here. If it moves above 270, then there will be a smart money squeeze for 322,000, 345,000, and 390,000. Okay? For similar insights and ideas, keep following Vikas Bagadiya. If you liked this video, don't forget to like, comment, and share. Thank you, friends. [Music]