ALUMINIUM 

Technical outlook

Aluminium June daily chart has formed "Falling 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, once the same breaks above a key resistance holding at 132.50. The upside rally could be testing all the way through 134-135 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn the trend to bearish/sideways mode. Key support holds at 131.

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COPPER

Technical outlook

Copper June 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, once the same breaks above a key resistance holding at 416.50. The upside rally could be testing all the way through 419.50-412 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 407.50 level. Key support holds at 407.50.

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LEAD

Technical outlook

Lead June 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 bullish momentum based on the current price action, testing all the way through 135 levels in the upcoming sessions. Alternatively, if the key market breaks below a key support holding at 131 then it might turn bearish once again. The downside rally could test 128.50 level. Key resistance holds at 135.

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NATURAL GAS

Technical outlook

Natural gas daily chart has formed “Right angled 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 139. The downside rally could be testing all the way through 134 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 147 levels. Key resistance holds at 147.

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NICKEL

Technical outlook

Nickel June 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 924. The downside rally could be testing all the way up to 910-895 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 960 level. Key resistance holds at 960.

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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 sideways 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 48650. The positive rally could be extending all the way up to 49050-49400 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might retest the same and revise the trend to bearish once again. The downside rally could test up to 47500 level. Key support holds at 47500.

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ZINC

Technical outlook

Zinc June 4hr Chart has formed "Rising channel" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bullish term based on the current price action, once the same breaks above a key resistance holding at 158.50. The upside rally could be testing all the way up to 160-161 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then market might retest the same and turn bearish once again. The downside rally could be testing up to 154 level. Key support holds at 154.

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