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Published on 14/02/2018 12:26:56 PM | Source: Enrich Commodities India Pvt Ltd

Silver , Gold , Zinc , Lead Copper Commodity Report Of 14/2/2018 By Enrich Commodities

ALUMINIUM

Technical outlook

Aluminium 4hr chart has formed "Descending channel” pattern. The last few sessions seems consolidated ended up near the channel’s resistance slope line. As per the technical aspects of the pattern, the market is expected to retest the level and turn bearish. The downside rally could test 136-135 levels in upcoming weeks. Alternatively, if the market breaks above the resistance level at 138, then buyers might take control over the same. The upside rally could test 139-140.50 levels. Support holds at 135.

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COPPER

Technical outlook

Copper daily chart has formed "Descending broadening wedge” pattern. The last few sessions been bullish in trend after retesting the channel’s support slope line. The market is expected to continue in bullish term to retest the resistance level holding at 455. The upside rally could test 452-455 levels in upcoming weeks. Alternatively, the market might also have a chance to give a small correction over negative momentum. Support holds at 442.50.

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LEAD

Technical outlook

Lead 4hr chart has formed "Descending Channel” pattern. The last few sessions been bullish in trend after retesting a trend slope line inside the channel. The market is expected to continue in bullish term to retest the resistance level holding at 165 and turn bearish. The downside rally could test 164-162 levels in upcoming sessions. Alternatively, if the market breaks above the resistance level then it might continue in bullish momentum. The upside rally could test 166-167 levels. Support holds at 162.

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NATURAL GAS

Technical outlook

The last few sessions of Natural gas market seems consolidated near a major support level at 165. Exclusively, the last session ended up giving a morning star pattern which could be read as a trend reversal one. The market is expected to continue in bullish term to retest the resistance level holding at 175 and turn bearish. The downside rally could test 170-165 levels in upcoming sessions. Alternatively, if the market breaks above the resistance level then it might continue in bullish momentum. Support holds at 165.

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NICKEL

Technical outlook

Nickel 4hr chart has formed "Broadening top” pattern. The last few sessions been bullish in trend. The market is expected to continue on the same trend. Once the market breaks above a resistance level holding at 875. The upside rally could test all the way through 890-910 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might turn bearish. Key Support holds at 845.

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SILVER

Technical outlook

Silver daily chart has formed "Broadening top” pattern. The last few sessions seems consolidated ended up near a resistance slope trend line inside the channel. The market is expected to continue in bullish momentum once the same breaks above the slope line. The upside rally could test all the way through 38500-38700 levels in the upcoming sessions. Alternatively, if the market breaks below the support level at 38000, then it might turn bearish. Key Resistance holds at 38700.


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ZINC

Technical outlook

Zinc daily chart has formed "Rising wedge” pattern. The last few sessions seems consolidated but ended up bullish 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 negative momentum, testing all the way through 225-226 levels in the upcoming sessions. Previous resistance become Support at 217

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