MENU

Published on 21/01/2019 11:42:13 AM | Source: Enrich Commodities India Pvt Ltd

Aluminium , Lead, Natural Gas, Zinc, Silver Commodity Report Of 21/01/2019 By Enrich Commodities

Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More

ALUMINIUM

Technical outlook

Aluminium daily chart has formed "Megaphone chart" pattern. The last few sessions ended up in bullish trend along with some corrections inside the channel. The market is expected to continue on the bullish trend based on the current price action, once the same breaks above a key resistance holding at 134. The upside rally could be testing all the way through 136-138 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 131-130 levels. Key support holds at 130.

Technical Chart:

To Read Complete Report & Disclaimer Click Here

 

COPPER

Technical outlook

Copper daily chart has formed “Descending broadening wedge” pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 432. The upside rally could be testing all the way through 436-440 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 425-420 levels. Key support holds at 420.

Technical Chart:

To Read Complete Report & Disclaimer Click Here

 

LEAD

Technical outlook

Lead daily chart has formed “Megaphone chart” pattern. The last few sessions ended up bullish in trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 142.50. The upside rally could be testing all the way up to 144-145 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 140-138 level. Key support holds at 138.

Technical Chart:

To Read Complete Report & Disclaimer Click Here

 

NATURAL GAS

Technical outlook

Natural gas daily chart has formed “Right angled ascending broadening wedge” pattern. The last few sessions ended up in bearish trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the price action, once the same breaks below a key support holding at 235. The downside rally could be testing all the way through 230-225 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 245-250 level. Key resistance holds at 250.

Technical Chart:

To Read Complete Report & Disclaimer Click Here

 

NICKEL

Technical outlook

Nickel daily chart has formed “Descending broadening wedge” pattern. The last few sessions been in bullish trend along with some corrections inside the channel. The market is expected to continue on the bullish term based on the current price action, once the same breaks above a key resistance holding at 845. The upside rally could be testing all the way through 855-870 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 825-810 levels. Key support holds at 810.

Technical Chart:

To Read Complete Report & Disclaimer Click Here

 

SILVER

Technical outlook

MCX Silver March futures technical chart has taken the formation of “Megaphone chart” pattern in daily time frame. Last session ended up bearish in trend after few positive rallies inside the channel, where the market is expected to continue on the bearish trend. The continuation of the trend will be confirmed once the prices breaks below the key support holding at 39100. The negative rally could be extending all the way up to 38900-38700 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might have a chance to retest the same and revise the trend to bullish once again. The upside rally could test up to 39400-39600 levels. Key resistance holds at 39600.

Technical Chart:

To Read Complete Report & Disclaimer Click Here

 

ZINC

Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up bullish in trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 186. The upside rally could be testing all the way through 188-190 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 183-180 levels. Key support holds at 180.

Technical Chart:

To Read Complete Report & Disclaimer Click Here

 

Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer