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COPPER

Technical outlook

Copper Oct future daily chart has formed "Falling wedge" pattern. There were few sideways rallies within the channel in the last few sessions, while the market has closed in green on last one. 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 720. The upside rally could be testing all the way up to 723-726 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 711.

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NATURAL GAS

Technical outlook

Natural gas daily chart has formed “Ascending broadening wedge” pattern. Over the last few sessions, we have seen some sideways movements, where the last one had traded a little higher and closed in green. The market is expected to continue on the bullish momentum based on the price action, once break above a key resistance holding near 379. The upside rally could be testing all the way through 382-385 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 370.

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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 lower and closed in red. 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 59700. The downside rally could be extending all the way up to 59100-58500 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 60900. A slide to 61500 is also a possibility if the price makes or break above the current resistance level.

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ZINC

Technical outlook

Zinc Oct future 4hr Chart has formed "Ascending broadening wedge" pattern. The last session ended up bullish with few corrections, traded higher creating a whole new historical high yet again. 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 262. The upside rally could be testing all the way up to whole new 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 259. A slide to 257.50 is also a possibility if the price makes or break below the current support level.

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