MENU

Published on 3/07/2020 12:36:54 PM | Source: Enrich Commodities India Pvt Ltd

Copper, Natural Gas, Silver and Zinc Commodity Report Of 3/07/2020 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 July daily chart has formed "Rising channel" pattern. The 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 breaks below a key support holding at 462. The downside rally could be testing all the way through 459-456 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish/sideways mode. Key resistance holds at 468.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

Natural Gas

Technical outlook

Natural gas daily chart has formed “Falling wedge” pattern. The last few sessions ended up in sideways trend retesting near the channel’s resistance line. The market is expected to continue on bullish momentum based on the price action, once the same breaks above a stiff resistance area holding at 130.50. The upside rally could be testing all the way through 134-137 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 126.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

 

Silver

Technical outlook

MCX Silver Sept futures technical chart has taken the formation of "Rising channel" pattern in daily time frame. Last few sessions ended up in sideways mode, retesting near the channel’s support line. The market is expected to continue on bearish momentum, extending all the way up to 48300 levels in the upcoming sessions. An alternative scenario indicates that if the market breaks above a stiff resistance level holding near 49400 then it might revise the trend to bullish/sideways mode. Key support holds at 48300.

Technical Chart

To Read Complete Report & Disclaimer Click Here
 

Zinc

Technical outlook

Zinc July 2hr Chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up in sideways trend 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 162.30. The downside rally could be testing all the way up to 161-160.50 levels in the upcoming sessions. Alternatively, if the market struggles to break below support level, then it might revise the trend to bullish/sideways. Key resistance holds at 165.

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