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Published on 14/03/2018 12:35:19 PM | Source: Enrich Commodities India Pvt Ltd

Silver , Gold , Zinc , Lead Copper Commodity Report Of 14/3/2018 By Enrich Commodities

COPPER

Technical outlook

Copper 4hr chart has formed "Falling wedge” pattern. The last session ended up consolidated near the channel’s resistance slope line. The market is expected to continue in bullish trend, once the same breaks above the key resistance level holding at 452. The upside rally could test all the way through 454-456 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Key support holds at 448.

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ALUMINIUM

Technical outlook

Aluminium daily chart has formed "Descending channel” pattern. The last session ended up consolidated near a junction place which acts as a key support level holding at 134. The market is expected to continue in bullish trend, testing all the way through 136.50-138 levels in the upcoming sessions. Alternatively, if the market breaks below the support then it might turn bearish once again. Key Resistance holds at 138.

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LEAD

Technical outlook

Lead daily chart has formed "Falling wedge” pattern. The last session ended up consolidated after retesting the key support holding at 152. The market is expected to continue in bullish trend, once the same breaks above the key resistance level holding at 156. The upside rally could test all the way through 158-160 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish.


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SILVER

Technical outlook

Silver daily chart continues in "Symmetrical triangle” pattern. The last sessions ended up consolidated near a key support level holding at 38500. The market is expected to continue in bearish momentum, once the same breaks below the key support. The downside rally could test all the way through 38250- 38000 levels in the upcoming sessions. Alternatively, if the support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 38900-39200 levels. Key resistance holds at 39200.

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ZINC

Technical outlook

Zinc daily chart has formed "Falling wedge” pattern along with a “Rising channel”. The last session ended up bullish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum by retesting a key support holding at 210. The upside rally could test all the way through 215-217 levels in the upcoming sessions. Alternatively, if the market breaks below the key support then it might turn bearish once again. Resistance holds at 217.

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NATURAL GAS

Technical outlook

Natural gas 4hr chart has formed "Rising channel” pattern. The last sessions ended up near the channel’s support slope line. The market is expected to continue in bullish momentum by retesting the key support level holding at 180. The upside rally could test all the way through 182.50- 185 levels in the upcoming sessions. Alternatively, if the market breaks below the support then it might continue in bearish momentum. The downside rally could test 178-175 levels. Key resistance holds at 185.

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NICKEL

Technical outlook

Nickel hourly chart has formed "Descending broadening wedge” pattern. The last sessions ended up bullish as the prices seems to have broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above a key resistance holding at 900. The upside rally could test all the way through 905-915 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Key support holds at 890.


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