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COPPER

Technical outlook

Copper Mar future daily chart has formed "Rising channel" pattern. There were few random movements within the channel in the last few sessions, while the market has traded higher and closed in green for the last session. The market is expected to continue on bullish momentum based on the current price action, once the same break above the current key resistance holding near 790. The upside rally could be testing all the way up to 793-796 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might revise the trend to bearish/sideways mode. Key support holds at 781.

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NATURAL GAS

Technical outlook

Natural gas daily chart has formed “Descending broadening wedge” pattern. Over the last few sessions, we have seen some random movements, where the last one had traded higher and closed in green. The market is currently expected to continue on the bullish momentum based on the gap up today, once break above the current resistance holding near 355. The upside rally could be testing all the way through 360-365 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 335.

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SILVER

Technical outlook

MCX Silver May futures technical chart has taken the formation of "Rounded bottom" pattern in daily time frame. There have been a few sideways sessions along with slight corrections within the channel, where the last one has traded higher and closed in strong green. current market is expected to continue on bullish trend based on the current price action, once the same break above the key resistance level holding near 67300. The upside rally could be extending all the way up to 67900- 68500 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 66600. A slide to 66000-65400 is also a possibility if the price makes or break below the current support level.

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ZINC

Technical outlook

Zinc Mar future daily chart has formed "Rising wedge" pattern. The last few sessions ended up bullish in overall, where the last session has traded higher and closed in green. The market is expected to continue on the bullish term based on the current price action, once the same breaks above the current key resistance holding near 314. The upside rally could be testing all the way up to 316-318 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways. Key support holds at 308

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