IGI Logo

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 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 767. The downside rally could be testing all the way up to 764-761 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 776.

To Read Complete Report & Disclaimer Click Here

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 lower and closed in red. The market is currently expected to continue on the bullish momentum based on the gap up today, once break above the current support holding near 350. The upside rally could be testing all the way through 355-360 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. A slide to 330 is also a possibility if the price makes or break below the current support level.

To Read Complete Report & Disclaimer Click Here

SILVER

Technical outlook

MCX Silver May futures technical chart has taken the formation of "Symmetrical triangle" 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 current market has opened on a gap up formation and still it is expected to continue on bearish trend based on the current price action, once the same break below the key support level holding near 64900. The downside rally could be extending all the way up to 64300-63700 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 bearish/sideways mode once again. Key resistance holds near 65500. A slide to 66100- 66700 is also a possibility if the price makes or break above the current resistance level.

To Read Complete Report & Disclaimer Click Here

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 303. The upside rally could be testing all the way up to 305-307 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 299. A slide to 297-295 is also a possibility if the market break or makes below the current support level.

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