COMEX COPPER, 10 YEAR TREASURY NOTE

MCX COPPER

COMEX COPPER

I was wrong about my previous prediction but at that time i said  bullish above 402 levels in MCX. Overall pattern is not still clear for longer term pattern according to me where my thinking says copper may go higher high from current levels due to breakout in H&S pattern  happened in weekly chart of  RSI for the Tgt. of 450-60 in MCX and in COMEX near 4.20 levels. Comex Copper chart clear indicates for bullish after small correction happened may be near 390-385 levels in MCX . That's why i am just looking for a small correction but My mind is still open to taking both position . Lets see. 

10 YEAR TREASURY NOTE

Breakdown below 129.50 levels indicates 126.5 levels in few days and this is the positive for US market or Equity market. 

USDX, COPPER

USDX--Dollar Index

 Dollar price may fall at higher levels . and C wave of Entire Decline Impulse wave has been started so we have to wait for a small correction at higher levels for the 2nd wave as i think and total 5 wave or C wave pattern may be completed near 100 levels .

MCX COPPER Short term chart

COMEX COPPER Longer term Chart

Comex copper chart indicates for the longer term movement and the initial tgt. is 2.6 levels for 3rd wave which may take good support according to fibonacci analysis. and in Short term MCX Copper chart indicates 1st Tgt. --355 , 2nd Tgt.-340, 3rd Tgt.--300 levels . i am very comfortable in Lead, Zinc ,Nickel for bearish than the copper .

MSCI EMR ETF , DOW Transport

MSCI EMR ETF ( Emerging Index ETF )

 This chart indicates H&S pattern which is bearish for longer-term so if u look on volume then see decline volume on right shoulder which indicates to price may not go above near 50 levels  . According to fibonacci analysis 45 levels is a strong resistance point , so at this levels we may see some kind buying moment at lower levels for the completing of C wave of 2nd wave as indicated in chart.

Dow Transport

Yesterday falling pattern may be completed near 4200 levels as i told before so that will be the B wave of entire Declined Impulse wave pattern then rise for C wave of 2nd wave .

NIFTY SPOT

Nifty breached 4720 levels which is the previous support that means we may see more downfall pattern near 4350-4400 levels . and in 1hr. chart indicates some kind of pull back rally may be happened from 4700 levels to 4850 levels which will be the good levels to go for short  in Nifty fut.

NIFTY SPOT

4900 levels has been touched as i told before . and now onwards i think we should stay in buy position instead of making short with sl 4720 . After completed 5 wave downside pattern in indicated in black number which indicates for ABC wave in upside . so we have completed A and B waves pattern and C wave should be near 5400 or 6000 levels or depending  due to positive divergence in MACD, RSI .

USDINR is trading at 51.40 levels which is above my expectation  but indicators like MACD, RSI all are giving negative divergence so most probably we may see some kind of sell off pattern and also in US Dollar

USDINR, NIFTY

USDINR

NIFTY SPOT

4900 levels as a strong support as i told before .In today Another chart pattern is in my mind which is--- 5 wave pattern of C wave for the tgt. of 2000 levels .

              1st pattern------ if nifty breaks 4720 levels then we may see strong strong strong support levels  near 4400 , then see huge uptrend pattern.

              2nd pattern----- if nifty doesn't break 4720 levels and back to 6300 or higher that levels the downside tgt. will be 3600-3700.

              3rd pattern------ if nifty doesn't break 4720 levels and back to 6000 levels then fall, Tgt. will be 2000 level or 2008 year low.

USDINR---- It seems like Broadening Triangle formation which may be completed near E wave as i indicated in chart and that could be 2nd wave . if it is true then sure my 3rd pattern in Nifty will be happened .

Lets see.

MCX COPPER

MCX COPPER

Copper has been rebound from 374 levels to 396 levels which was unexpected as my thinking so at this levels if Copper price line will go above 396.50 for the Tgt. of 408-409 levels on upper side then may be happened a good correction at ABC wave method. But if price line will breakdown below 374 levels then we may see a good correction in 5 wave pattern which could be 5th wave of Y wave for the Tgt. of  340--300 levels. with sl 396 levels.