MENU

Published on 21/02/2020 4:36:52 PM | Source: Enrich Commodities India Pvt Ltd

Copper, Natural Gas, Nickel and Silver Commodity Report Of 21/02/2020 By Enrich Commodities

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

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.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

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.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

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.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

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.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

Please refer disclaimer at https://enrichbroking.in/disclaimer

SEBI Registration number is INZ000078632

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer