IGI Logo

COPPER

Technical outlook

Copper Nov future daily chart has formed "Right angled ascending broadening wedge" pattern. There were few bearish rallies within the channel in the last few sessions, while the market has traded higher yet closed in slight red for the last session. The market is expected to continue on bearish momentum based on the current price action, once the same break below the current key support holding near 735. The downside rally could be testing all the way up to 732- 729 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 744.

Technical Chart

To Read Complete Report & Disclaimer Click Here

NATURAL GAS

Technical outlook

Natural gas daily chart has formed “Ascending broadening wedge” pattern. Over the last few sessions, we have seen some rapid movements, where the last one had traded higher and closed in green after retesting the channel’s support line. The market is expected to continue on the bullish momentum based on the price action, once break above a key resistance holding near 435. The upside rally could be testing all the way through 440-445 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 420.

Technical Chart

To Read Complete Report & Disclaimer Click Here

SILVER

Technical outlook

MCX Silver Dec futures technical chart has taken the formation of "Descending broadening wedge" 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 green. The market is expected to continue on bullish momentum based on the current price action, once the same break above the key resistance level holding near 64400. The upside rally could be extending all the way up to 65000-65600 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 62600.

Technical Chart

To Read Complete Report & Disclaimer Click Here

ZINC

Technical outlook

Zinc Nov future 4hr Chart has formed "Descending broadening wedge" pattern. The last few sessions ended up sideways in overall, where the last session has traded lower and closed in red. The market is expected to continue on the bearish term based on the current price action, once the same breaks below the current key support holding near 275. The downside rally could be testing all the way up to 273-271 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 281.

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