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Enrich Commodities India Pvt.Ltd

Published on 21/02/2020 4:53:02 PM

Silver

Technical outlook

MCX Silver Mar futures technical chart has taken the formation of "Megaphone chart" pattern in daily time frame. Last few sessions ended up in sideways in trend along with some corrections inside the channel, where the market is expected to continue on the bullish trend. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 48000. The positive rally could be extending all the way up to 48350-48700 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. The downside rally could test up to 47200 level. Key support holds at 47200.

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Enrich Commodities India Pvt.Ltd

Published on 21/02/2020 4:52:51 PM

Nickel

Technical outlook

Nickel Feb daily Chart has formed "Descending broadening wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bearish term based on the current price action, once the same breaks below a key support holding at 934. The downside rally could be testing all the way through 925-910 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 965 level. Key resistance holds at 965.

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SEBI Registration number is INZ000078632

Enrich Commodities India Pvt.Ltd

Published on 21/02/2020 4:52:34 PM

Natural Gas

Technical outlook

Natural gas daily chart has formed “Falling channel” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bullish momentum based on the price action, once the same breaks above a key resistance holding at 142. The upside rally could be testing all the way through 145-148 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 up to 136 levels. Key support holds at 136.

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SEBI Registration number is INZ000078632

Enrich Commodities India Pvt.Ltd

Published on 21/02/2020 4:52:20 PM

Copper

Technical outlook

Copper Feb daily chart has formed "Megaphone chart" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 429. The downside rally could be testing all the way through 425-422 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 437 level. Key resistance holds at 437.

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SEBI Registration number is INZ000078632

Enrich Commodities India Pvt.Ltd

Published on 21/02/2020 4:51:31 PM

Gold

Technical outlook

MCX Gold Apr futures technical chart has taken the formation of “Right angled ascending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways trend along with some corrections inside the channel, the market is expected to continue on bullish momentum based on the price action. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 42100. The positive rally could be extending all the way up to 42300-42450 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. The downside rally could test up to 41600 level. Key support holds at 41600.

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SEBI Registration number is INZ000078632
 

Enrich Commodities India Pvt.Ltd

Published on 21/02/2020 4:50:49 PM

CrudeOil

Technical outlook

MCX Crude Oil futures technical chart has taken the formation of "Rectangle chart" pattern in daily time frame. Previously few sessions ended up sideways in trend along with some corrections inside the channel. As per the technical aspects based on the current price action, the market is expected to continue on bullish trend. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 3925. The positive rally could be testing all the way up to 4000-4060 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. Such reversal could possibly test up to 3760 level. Key support holds at 3760.

Click Here- https://bit.ly/2T0I7mc

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SEBI Registration number is INZ000078632
 

Enrich Commodities India Pvt.Ltd

Published on 20/02/2020 11:21:46 AM

Gold

Technical outlook

MCX Gold Apr futures technical chart has taken the formation of “Right angled ascending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways trend along with some corrections inside the channel, the market is expected to continue on bullish momentum based on the price action. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 41640. The positive rally could be extending all the way up to 41750-41900 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. The downside rally could test up to 41250 level. Key support holds at 41250.

Click Here-https://bit.ly/2Pa8lBx

Please refer disclaimer at https://enrichbroking.in/disclaimer
SEBI Registration number is INZ000078632

Enrich Commodities India Pvt.Ltd

Published on 20/02/2020 11:20:41 AM

CrudeOil

Technical outlook

MCX Crude Oil futures technical chart has taken the formation of "Rectangle chart" pattern in daily time frame. Previously few sessions ended up sideways in trend along with some corrections inside the channel. As per the technical aspects based on the current price action, the market is expected to continue on bullish trend. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 3830. The positive rally could be testing all the way up to 3900-3950 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. Such reversal could possibly test up to 3660 level. Key support holds at 3660.

Click Here- https://bit.ly/37LtkRI

Please refer disclaimer at https://enrichbroking.in/disclaimer
SEBI Registration number is INZ000078632

Enrich Commodities India Pvt.Ltd

Published on 20/02/2020 11:19:46 AM

Silver

Technical outlook

MCX Silver Mar futures technical chart has taken the formation of "Megaphone chart" pattern in daily time frame. Last few sessions ended up in sideways in trend along with some corrections inside the channel, where the market is expected to continue on the bullish trend. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 47750. The positive rally could be extending all the way up to 48200-48600 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. The downside rally could test up to 46900 level. Key support holds at 46900.

Click Here- https://bit.ly/2V5GDK5

Please refer disclaimer at https://enrichbroking.in/disclaimer
SEBI Registration number is INZ000078632

Enrich Commodities India Pvt.Ltd

Published on 20/02/2020 11:19:22 AM

Nickel

Technical outlook

Nickel Feb daily Chart has formed "Descending broadening wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bearish term based on the current price action, once the same breaks below a key support holding at 938. The downside rally could be testing all the way through 925-910 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 965 level. Key resistance holds at 965.

Click Here- https://bit.ly/2V5GDK5

Please refer disclaimer at https://enrichbroking.in/disclaimer
SEBI Registration number is INZ000078632

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