MENU

Published on 15/05/2020 3:05:08 PM | Source: Enrich Commodities India Pvt Ltd

Copper, Nickel, Silver, Natural Gas, Lead, Zinc and Aluminium Commodity Report Of 15/05/2020 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 May 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 bullish momentum based on the current price action, testing all the way through 410 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 400 then it might turn bearish/sideways mode once again. The downside rally could test up to 394 level. Key resistance holds at 410.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

Nickel

Technical outlook

Nickel May 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 920. The downside rally could be testing all the way up to 910-900 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 950 level. Key resistance holds at 950.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

Silver

Technical outlook

MCX Silver July futures technical chart has taken the formation of "Megaphone chart" pattern in weekly time frame. Last few sessions ended up in bullish in trend along with some corrections inside the channel, where the market is expected to continue on the bearish trend. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 42800. The negative rally could be extending all the way up to 42400-42100 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might retest the same and revise the trend to bullish once again. The upside rally could test up to 43900 level. Key resistance holds at 43900.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

Natural Gas

Technical outlook

Natural gas daily 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 bearish momentum based on the price action, once the same breaks below a key support holding at 121. The downside rally could be testing all the way through 118-115 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 130 levels. Key resistance holds at 130.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

Lead

Technical outlook

Lead May Futures Weekly chart has formed "Falling channel" 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 129. The downside rally could be testing all the way through 127.50-126 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 133 level. Key resistance holds at 133.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

Zinc

Technical outlook

Zinc May daily Chart has formed "Symmetrical triangle" 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 151.50. The downside rally could be testing all the way up to 150-148 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 be testing up to 157 level. Key resistance holds at 157.

Technical Chart

To Read Complete Report & Disclaimer Click Here

 

Aluminium

Technical outlook

Aluminium May daily chart has formed "Ascending 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 bullish momentum based on the current price action, testing all the way through 133 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 129.50 then it might turn bearish/sideways mode. The downside rally could test up to 128. Key resistance holds at 133.

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