[Premium India] How The Commodities on the MCX Are Looking Today

Here is a chart of Gold on the MCX. I see a breakout from a mulit-year base and we want to be long if we're above 29,900 with a target above 32,400 which were the 2016 highs:

Here is Silver. Like Gold, I think we are just starting a new uptrend and we want to be long Silver if we're above 40,000 with a target above 48,600 which were the highs in 2016:

The base in Crude Oil is even bigger. Notice how we're already above the highs from 2015. If we're above that 4000 level then we want to be long with a target above 5300, which is the 161.8% extension of the entire 2015-2016 decline:

Look at Natural Gas. To me, that failed breakdown in December is the catalyst to spark a rally towards 289. We want to be long only if we're above 220:

On the Base metals side, Copper still looks like it is heading towards 513 which are the highs of 2013. We want to be buying any weakness and be long if we're above 430:

Nickel also looks very strong. The 161.8% extension of the 2016-2017 decline is near 975 and that's where I think we're going. If we're above 815 we want to be long Nickel:

There are other commodities, of course, but I think these are the ones worth mentioning that offer the best risk vs reward opportunities in the Multi Commodity Exchange (MCX). We will be adding all of these futures, including other like Zinc, Lead, Aluminum, Cardamom, Cotton, Palm Oil etc to the Chartbook in the coming days.

Look out for continued expansion of the Premium Platform in the coming weeks. I will keep you posted as we add these features. We're very excited, but good things take time. The good news is that we don't need much time!! We're on it!

Cheers,

JC