03-01-2021 12:34 PM | Source: Enrich Commodities India Pvt Ltd
Copper, Natural Gas, Silver and Zinc Commodity Report Of 01/03/2021 By - Enrich Commodities
News By Tags | #473 #3359

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

https://t.me/InvestmentGuruIndiacom

Download Telegram App before Joining the Channel

COPPER

Technical outlook

Copper March future 4hr chart has formed "Ascending broadening wedge" pattern. The last session ended sideways mode also creating new historical high. The market is still expected to continue on bearish momentum based on the current price action, once the same break below the key support holding near 713. The downside rally could be testing all the way up to 710-707 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might revise the trend to bullish/sideways mode. Key resistance holds at 719. A slide to 722 is also a possibility if the price makes or break above the current resistance level.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

 

NATURAL GAS

Technical outlook

Natural gas 2hr chart has formed “Falling wedge” pattern. The last few sessions ended up sideways mode along with some corrections inside the channel. The market is expected to continue on the bullish momentum based on the price action, once break above a key resistance holding near 207. The upside rally could be testing all the way through 210-213 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and turn bearish/sideways once again. Key support holds at 201. A slide to 198 is also a possibility if the price makes or break below the current support level.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

SILVER

Technical outlook

MCX Silver May futures technical chart has taken the formation of "Rising channel" pattern in 4hr time frame. Last few sessions ended up in sideways mode 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 break below the key support level holding near 68700. The downside rally could be extending all the way up to 67900-67100 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 69500. A slide to 70300-711100 is also a possibility if the price makes or break above the current resistance level.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

Zinc

Technical outlook

Zinc march future 4hr Chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up sideways mode 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 near 222.50. The downside rally could be testing all the way up to 221-219.50 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways. Key resistance holds at 225.50. A slide to 227 is also a possibility if the price makes or break above the current resistance level.

 

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