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Published on 17/04/2018 12:35:34 PM | Source: Enrich Commodities India Pvt Ltd

Silver , Nickel , Zinc , Lead Copper Commodity Report Of 17/4/2018 By Enrich Commodities

ALUMINIUM

Technical outlook

Aluminium daily chart has formed “Rising wedge” pattern. The last session ended up bullish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, testing all the way through 158-160 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 155 then it might turn bearish. The downside rally could test 154-152 levels. Key resistance holds at 160.

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COPPER

Technical outlook Copper 4hr chart has formed “Rising channel” pattern. The last session ended up consolidated after retesting the channel’s support slope line. The market is expected to continue in bullish momentum, once the same breaks above a key resistance holding at 450. The upside rally could test all the way through 452-454 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test 446-443 levels. Key support holds at 443.


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LEAD

Technical outlook

Lead daily chart has formed “Falling wedge” pattern. The last session ended up bullish in trend after retesting the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 155.50. The upside rally could test all the way through 156.50-158 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 all the way through 153-150 levels. Key support at holds 150.

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NATURAL GAS

Technical outlook

Natural gas daily chart has formed “Bullish Diamond chart” pattern. The last few sessions ended up bullish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 182. The upside rally could test all the way through 185-188 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Key support at holds 175.


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NICKEL

Technical outlook

Nickel daily chart has formed “Bullish rectangle chart” pattern. The last few sessions ended up bullish in trend as the prices have broken out the pattern’s horizontal resistance line. The market is expected to continue in bullish momentum, testing all the way through 940-950-970 levels in the upcoming sessions. Alternatively, if the market breaks below the previous resistance level which is now support at 910 then it might turn to bearish momentum. Key resistance at holds 970.


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SILVER

Technical outlook

Silver daily chart has formed “Symmetrical triangle” pattern. The last few sessions seems consolidated as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 39200. The upside rally could test all the way through 39350-39500 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 38900-38600 levels. Key Support holds at 38600.

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ZINC

Technical outlook

Zinc daily chart has formed “Falling wedge” pattern along with a “Long-term Rising wedge”. The last session ended up bullish in trend after retesting a key support holding at 202.50. The market is expected to continue in bullish momentum, testing all the way through 208-210 levels in upcoming sessions. Alternatively, if the market breaks below the key support then it might turn bearish once again. The downside rally could test 200-198 levels. Key resistance holds at 210.


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