IGI Logo

COPPER

Technical outlook

Copper Jan future daily chart has formed "Symmetrical triangle" pattern. There were few sideways rallies within the channel in the last few sessions, while the market has traded lower and closed in 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 732. The downside rally could be testing all the way up to 729-726 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 741.

To Read Complete Report & Disclaimer Click Here

NATURAL GAS

Technical outlook

Natural gas daily chart has formed “Falling wedge” pattern. Over the last few sessions, we have seen some sideways movements, where the last one had traded higher and yet closed in red. The market is currently expected to continue on the bearish momentum based on the reversal price action, once break below the current support holding near 300. The downside rally could be testing all the way through 295-290 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and turn bullish/sideways once again. Key resistance holds at 310. A slide to 315-320 is also a possibility if the price makes or break above the current resistance level.

Technical Chart

To Read Complete Report & Disclaimer Click Here

SILVER

Technical outlook

MCX Silver Mar futures technical chart has taken the formation of "Rectangle chart" pattern in 4hr time frame. There have been a few sideways sessions along with slight corrections within the channel, where the last one has traded sideways 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 60700. The upside rally could be extending all the way up to 61300-61900 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 60100. A slide to 59500-58900 is also a possibility if the price makes or break below the current support level.

Technical Chart

To Read Complete Report & Disclaimer Click Here

ZINC

Technical outlook

Zinc Jan future 4hr Chart has formed "Ascending 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 285. The downside rally could be testing all the way up to 283-281 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 289. A slide to 291 is also a possibility if the price makes or break above the current resistance level.

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