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Published on 14/06/2018 12:08:38 PM | Source: Enrich Commodities India Pvt Ltd

Aluminium , Natural gas , Silver , Zinc , Copper Commodity Report Of 14/6/2018 By Enrich Commodities

ALUMINIUM

Technical outlook

Aluminium hourly chart has formed “Falling wedge” pattern. The last session ended up bearish in trend inside the channel. The market is expected to continue on the bearish trend for a while to retest the channel’s support slope line and turn bullish once again. The upside rally could test all the way through 156-158 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 154 then it might continue in bearish momentum. The downside rally could test 153-152 levels. Key resistance holds at 158.

Technical Chart:

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COPPER

Technical outlook

Copper 4hr chart has formed “Bullish Flag chart” pattern. The last session ended up retesting near the flag’s support slope line. The market is expected to continue on a bullish momentum, testing all the way through 488-490 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 482 then it might turn to bearish once again. The downside rally could test 478-475 levels. Key resistance holds at 490.

Technical Chart:

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LEAD

Technical outlook

Lead daily chart has formed “Ascending broadening wedge” pattern. The last session ended up retesting the channel’s support slope line. The market is expected to continue on the bullish trend, testing all the way through 169-171 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 166 then it might turn overall bearish once again. The downside rally could test 164-162 levels. Key resistance holds at 171.

Technical Chart:

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NATURAL GAS

Technical outlook

Natural gas daily chart has formed “Rising channel” pattern. The last session ended up bullish in trend retesting near the channel’s support slope line. The market is expected to continue on the bullish trend, once the same breaks above a key resistance holding at 202. The upside rally could test all the way through 203-205 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. The downside rally could test 198-195 levels. Key support holds at 195.

Technical Chart:

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NICKEL

Technical outlook

Nickel daily chart has formed “Rising channel” pattern. The last session ended up bullish in trend retesting the channel’s support slope line. The market is expected to continue on the bullish trend, once the same breaks above a key resistance holding at 1060. The upside rally could test all the way through 1070-1080 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 1045-1035 levels. Key support holds at 1035.

Technical Chart:

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SILVER

Technical outlook

Silver 4hr chart has formed “Rectangle chart” pattern. The last session ended up retesting near the pattern’s horizontal resistance line. The market is expected to continue on a bullish momentum, once the same breaks above the strong resistance holding at 40850. The upside rally could test all the way through 41000-41200 levels in the upcoming sessions. Alternatively, if the resistance holds real strong then the market might retest the same once again and turn bearish. The downside rally could test 40650-40500 levels. Key support holds at 40500.

Technical Chart:

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ZINC

Technical outlook

Zinc daily chart has formed “Rising channel” pattern. The last few sessions ended up bullish in trend near the channel’s resistance slope line. The market is expected to continue on a bullish momentum, once the same breaks above a key resistance holding at 219. The upside rally could test all the way through 221-223 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 216-214 levels. Key support holds at 214.

Technical Chart:

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