IGI Logo

COPPER

Technical outlook

Copper April future 4hr chart has formed "Ascending broadening wedge" pattern. The last few sessions ended sideways mode along with some corrections inside the channel. The market is still expected to continue on bearish momentum based on the current price action, once the same break below the key support holding near 722. The downside rally could be testing all the way up to 719-716 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 731.

Technical Chart

To Read Complete Report & Disclaimer Click Here

NATURAL GAS 

Technical outlook

Natural gas 2hr chart has formed “Rising channel” pattern. The last few sessions ended up sideways mode along with some corrections inside the channel. The market is expected to continue on the bullish momentum based on the price action, once break above a key resistance holding near 208. The upside rally could be testing all the way through 211-214 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 202. A slide to 199 is also a possibility if the price makes or break below the current support level.

Technical Chart

To Read Complete Report & Disclaimer Click Here

SILVER

Technical outlook

MCX Silver May futures technical chart has taken the formation of "Rising channel" pattern in 4hr time frame. Last few sessions ended up in sideways mode 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 break below the key support level holding near 69000. The downside rally could be extending all the way up to 68200-67400 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 69800. A slide to 70600-71400 is also a possibility if the price makes or break above the current resistance level.

Technical Chart

To Read Complete Report & Disclaimer Click Here

ZINC

Technical outlook

Zinc April future 4hr Chart has formed "Rising channel" pattern. The last few sessions ended up sideways mode 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 near 229. The upside rally could be testing all the way up to 230.50-232 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 227.50. A slide to 226-224.50 is also a possibility if the price makes or break below the current support 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