Technical outlook :
Copper daily chart has
formed “Descending broadening wedge” pattern. The last session been
successfully bearish in trend after retesting the channel’s resistance slope
line. The market is expected to continue in bearish momentum, testing all the
way through 435-430 levels in the upcoming sessions. Alternatively, the market
might have a chance to give correction over positive momentum. Resistance holds
at 450 and Support at 430.
Technical Chart:
For daily commodity research reports click here https://enrichbroking.in/
ALUMINIUM
Technical outlook :
Aluminium 4-hr chart has
formed “Descending channel” pattern. The last few sessions been successfully
bearish in trend and has ended up near the channel’s support slope line. The
market is expected to retest the level and turn bullish, testing all the way
through 140-141.50 levels in the upcoming sessions. Alternatively, if the
market breaks below the support level at 138 then sellers might take control
over the same. The downside rally could test 137-136.50 levels. Resistance
holds at 141.50 and additional Support at 136.50.
Technical Chart :
Lead hourly chart has
formed “Rising channel” pattern. The last session seems consolidated as the prices
have retested the channel’s support slope line. The market is expected to
continue in bullish momentum, testing all the way through 169-172 levels in the
upcoming sessions. Alternatively, if the market breaks below the support level
at 167 then sellers might take control over the same. The downside rally could
test 166-165 levels. Resistance holds at 172.
Technical chart :
Technical chart :
Technical outlook :
Nickel 4hr chart has formed
"Broadening top” pattern. The last session ended up consolidated but
bearish in trend. The market is expected to continue on the same trend with a
small correction over positive momentum, testing all the way through 840-830
levels in the upcoming sessions. Alternatively, if the market breaks above the
key resistance level at 860 then it might turn bullish. The upside rally could
test 870-885 levels. Major Resistance holds at 885 and Key support at 830.
Technical Chart :
Technical Chart :
For daily commodity research reports click here https://enrichbroking.in/
Technical outlook :
Zinc daily chart has formed
"Ascending broadening wedge” pattern. The last few sessions seems strongly
bearish in trend as the prices have broken the pattern’s support slope line
itself. The market is expected to continue on the same trend with a small
correction over positive momentum, testing all the way through 219-217 levels
in the upcoming sessions. Alternatively, if the market breaks above the key
resistance level at 223 then it might turn bullish. Support holds at 217.
Technical Chart :
