Published on 12/01/2018 2:44:12 PM | Source: Enrich Commodities India Pvt Ltd

Silver , Gold , Zinc , Lead Copper Commodity Report Of 12/1/2018 By Enrich Commodities

Posted in | #Aluminium #Natural Gas #Zinc #Copper #Commodity Tips #Nickel #Lead #Enrich Commodities India Pvt Ltd


ALUMINIUM

Technical outlook

Aluminium daily chart has formed “Falling wedge” pattern along with the “Rising channel”. The last sessions seem bearish in trend after retesting the falling wedge’s resistance slope line. The market is expected to continue on the same trend testing all the way through 138-137 levels in the upcoming sessions. Alternatively, if market breaks above the resistance slope line then it might turn bullish. The upside rally could test 141-142 levels. Resistance holds at 142 and Support at 137.

Technical Chart:


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COPPER

Technical outlook

Copper daily chart has formed “Bullish flag chart” pattern. The last few sessions seems consolidated but bearish in trend. Exclusively the last session ended up retesting the channel’s resistance slope line. The market is expected to continue on the bearish trend, testing all the way through 452.50-450 levels in the upcoming sessions. Alternatively, if market breaks above the resistance slope line then it might continue in bullish trend. Resistance holds at 460and Previous resistance become Support at 452.50.

Technical Chart:


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LEAD

Technical outlook

Lead daily chart has formed “Rounding bottom” pattern along with the “Symmetrical triangle” pattern. The last few sessions seems consolidated but bullish in trend as the prices have broken above the symmetrical triangle. The market is expected to continue on the bullish trend as per the technical aspects of the rounding bottom pattern, testing all the way through 164-165 levels in the upcoming sessions. Alternatively, if market breaks below the triangle’s support slope line then it might turn to bearish momentum. Key Resistance holds at 166 and Support holds at 160.

Technical Chart:

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SILVER

Technical outlook

Silver 4hr chart has formed “Descending broadening wedge” pattern. The last few sessions been bearish in trend ended near the channel’s support slope line. Exclusively last session ended up retesting the support level at 38770 and turned bullish. The market is expected to continue in bullish and the upside rally could test all the way through 39000-39200 levels in the upcoming sessions. Alternatively, if the market breaks below the support then it might continue in bearish momentum. Major Resistance holds near 39300.

Technical Chart:


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ZINC

Technical outlook

Zinc daily chart continues in “Rising channel” pattern. The last session seems bullish in trend as the prices have retested the channel’s support line. As per the technical aspects of the pattern, the market is expected to continue in the same trend. The upside rally could test 217-218 levels in upcoming sessions. Alternatively, if market breaks below the support level holding at 215, then it might turn bearish testing all the way through 214-213. Major resistance holds at 218.

Technical Chart:

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NATURAL GAS

Technical outlook

Natural gas daily chart has formed a “Bearish Megaphone chart” pattern. The last few sessions seem to be strongly bullish in trend which has already broken out the pattern itself. The market is likely to continue on bullish momentum for a while, testing all the way through 197-200 levels in the upcoming sessions. Resistance holds at 200 and support at 190.

Technical Chart:

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