Commodity Report

Zinc 7/20/2018 10:13:00 AM

Technical outlook

Zinc daily chart has formed “Ascending broadening wedge” pattern. The last session ended up consolidated after retesting near the channel’s support slope line. The market is expected to continue on bullish momentum, once the same breaks above key resistance holding at 182. The upside rally could be testing all the way through 185-190 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test 177-175 levels. Key support holds at 175.


Research Report call:

Technical Chart:
Silver 7/20/2018 10:09:00 AM

Technical outlook

Silver daily chart has formed “Right angled ascending broadening wedge” pattern. The last few sessions ended up bearish in trend retesting near the channel’s support slope line. The market is expected to continue on bearish term, testing all the way through 38150-38000 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 38500, then it might turn bullish. The upside rally could test 39000-39500 levels. Key support holds at 38000.


Research Report call:

Technical Chart:
Nickel 7/20/2018 10:05:00 AM

Technical outlook

Nickel daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up consolidated near the channel’s support slope line. The market is expected to continue on the bullish momentum, testing all the way through 940-960 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 910 then it might turn bearish once again. The downside rally could test 900-880 levels. Key resistance holds at 960.


Research Report call:

Technical Chart:
Natural Gas 7/20/2018 10:01:00 AM

Technical outlook

Natural gas daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bullish in trend retesting near the channel’s support slope line. The market is expected to continue in bullish term, testing all the way through 194-197 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 187 then it might turn bearish once again. The downside rally could test 185-180 levels. Key resistance holds at 197.


Research Report call:

Technical Chart:
Lead 7/20/2018 9:56:00 AM

Technical outlook

Lead daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions ended up bearish in trend as the prices have broken out the channel’s support slope line. The market is expected to continue on the bearish momentum, testing all the way through 144-142 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 148 then it might turn bullish once again. The upside rally could test 150-152 levels. Key support holds at 142.


Research Report call:

Technical Chart:
Copper 7/20/2018 9:52:00 AM

Technical outlook

Copper daily chart has formed “Broadening top” pattern. The last session ended up bearish in trend near the channel’s support slope line. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 413. The downside rally could be testing all the way through 410-400 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 415-420 levels. Key resistance holds at 420.


Research Report call:

Technical Chart:
Aluminium 7/20/2018 9:49:00 AM

Technical outlook

Aluminium 4hr chart has formed “Falling wedge” pattern. The last few sessions ended up bearish in trend near the channel’s support slope line. The market is expected to continue on the bearish term, once the same breaks below a key support holding at 137.50. The downside rally could be testing all the way through 135-130 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 140-143 levels. Key resistance holds at 143.


Research Report call:

Technical Chart:
Crude Oil 7/20/2018 9:38:00 AM

Technical outlook

MCX Crude Oil futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions’ been bullish in trend after retesting near the channel’s support slope line. As per the technical aspects, the market is expected to continue on bullish momentum. The positive rally could be testing all the way through 4850-4900 levels in the upcoming sessions.

 

 U.S. Baker hughes Oil rig count

Time

Actual 

Forecast

Previous

Crude oil - U.S. Baker hughes Oil rig count

10.30 PM

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863

 

An alternative scenario indicates that if the market been able to breaks below a key support zone now holding near 4700, then it might have a chance to revise the trend to bearish once again. Key resistance holds at 4900.


Research Report call:

Technical Chart:
Gold 7/20/2018 9:34:00 AM

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last few sessions ended up bullish in trend inside the channel, where the market is expected to continue on the bullish momentum. The positive rally could extend all the way through 30000-30200 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the market been able to break below a key support holding at 29750, then it might have a chance to turn bearish once again. The downside rally could test 29600-29500 levels. Key resistance holds at 30200.


Research Report call:

Technical Chart:
Zinc 7/19/2018 10:08:00 AM

Technical outlook

Zinc daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bullish in trend after retesting near the channel’s support slope line. The market is expected to continue on bullish momentum, testing all the way through 185-187 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 170, then it might turn bearish once again. The downside rally could test 168-165 levels. Key resistance holds at 187.


Research Report call:

Technical Chart:
Silver 7/19/2018 10:05:00 AM

Technical outlook

Silver daily chart has formed “Rising channel” pattern. The last few sessions ended up bearish in trend as the prices have broken out the channel’s support slope line. The market is expected to continue on bearish term, testing all the way through 38200-38000 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 38750, then it might turn bullish. The upside rally could test 39000-39500 levels. Key support holds at 38000.


Research Report call:

Technical Chart:
Nickel 7/19/2018 10:02:00 AM

Technical outlook

Nickel daily chart has formed “Rising wedge” pattern. The last session ended up bullish in trend as the prices have already broken out the channel’s support slope line. The market is expected to continue on the bullish momentum, testing all the way through 950-970 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 905 then it might turn bearish once again. The downside rally could test 890-870 levels. Key resistance holds at 970.


Research Report call:

Technical Chart:
Natural Gas 7/19/2018 9:56:00 AM

Technical outlook

Natural gas daily chart has formed “Diamond chart” pattern. The last few sessions ended up bearish in trend retesting the channel’s support slope line. The market is expected to continue in bearish term, once the same breaks below a key support holding at 186. The downside rally could test all the way through 184-180 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 190-195 levels. Key resistance holds at 195.


Research Report call:

Technical Chart:
Lead 7/19/2018 9:52:00 AM

Technical outlook

Lead daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions ended up consolidated near the channel’s support slope line. The market is expected to continue on the bullish momentum, testing all the way through 150-154 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 146 then it might turn bearish once again. The downside rally could test 144-142 levels. Key resistance holds at 154.


Research Report call:

Technical Chart:
Copper 7/19/2018 9:47:00 AM

Technical outlook

Copper daily chart has formed “Broadening top” pattern. The last session ended up bullish in trend after retesting the channel’s support slope line. The market is expected to continue on bullish momentum, testing all the way through 425-430 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 417 then it might turn bearish once again. The downside rally could test 415-410 levels. Key resistance holds at 430.


Research Report call:

Technical Chart:
Aluminium 7/19/2018 9:43:00 AM

Technical outlook

Aluminium daily chart has formed “Falling wedge” pattern. The last few sessions ended up bearish in trend near the channel’s support slope line. The market is expected to continue on the bearish term, once the same breaks below a key support holding at 137. The downside rally could be testing all the way through 135-130 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 140-143 levels. Key resistance holds at 143.


Research Report call:

Technical Chart:
Crude Oil 7/19/2018 9:30:00 AM

Technical outlook

MCX Crude Oil futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last session’s been bullish in trend retesting near the channel’s support slope line. As per the technical aspects, the market is expected to continue on bullish momentum. The positive rally could be testing all the way through 4750-4850 levels in the upcoming sessions. An alternative scenario indicates that if the market been able to breaks below a key support zone now holding near 4600, then it might have a chance to revise the trend to bearish once again. Key resistance holds at 4900.


Research Report call:

Technical Chart:
Gold 7/19/2018 9:26:00 AM

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last session ended up in consolidation after few negative rallies inside the channel, where the market is expected to continue on the bearish momentum. The negative rally could extend all the way through 29600-29500 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the market been able to break above a key resistance holding at 30000, then it might have a chance to turn bullish once again. Key support holds at 29500.


Research Report call:

Technical Chart:
Zinc 7/18/2018 8:52:00 AM

Technical outlook

Zinc daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up bearish in trend near the channel’s support slope line. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 170. The downside rally could be testing all the way through 168-166 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 175-180 levels. Key resistance holds at 180.


Research Report call:

Technical Chart:
Silver 7/18/2018 8:48:00 AM

Technical outlook

Silver daily chart has formed “Rising channel” pattern. The last few sessions ended up bearish in trend as the prices have broken out the channel’s support slope line. The market is expected to continue on bearish term, testing all the way through 38300-38000 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 38750, then it might turn bullish. The upside rally could test 39000-39500 levels. Key support holds at 38000.


Research Report call:

Technical Chart:
Nickel 7/18/2018 8:45:00 AM

Technical outlook

Nickel daily chart has formed “Rising wedge” pattern. The last few sessions ended up bearish in trend as the prices have already broken out the channel’s support slope line. The market is expected to continue on the bearish momentum, testing all the way through 915-900 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 930 then it might turn bullish once again. The upside rally could test 940-950 levels. Key support holds at 900.


Research Report call:

Technical Chart:
Natural Gas 7/18/2018 8:38:00 AM

Technical outlook

Natural gas daily chart has formed “Diamond chart” pattern. The last few sessions ended up bearish in trend retesting the channel’s support slope line. The market is expected to continue in bearish term, once the same breaks below a key support holding at 187. The downside rally could test all the way through 184-180 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 190-195 levels. Key resistance holds at 195.


Research Report call:

Technical Chart:
Lead 7/18/2018 8:35:00 AM

Technical outlook

Lead daily chart has formed “Right angled descending broadening wedge” pattern. The last session ended up consolidated near the channel’s support slope line. The market is expected to continue on the bearish momentum, once the same breaks below a key support holding at 147. The downside rally could be testing all the way through 145-143 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 150-155 levels. Key resistance holds at 155.


Research Report call:

Technical Chart:
Copper 7/18/2018 8:30:00 AM

Technical outlook

Copper daily chart has formed “Broadening top” pattern. The last session ended up bearish in trend after a few consolidations near the channel’s support slope line. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 416. The downside rally could be testing all the way through 413-410 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 420-430 levels. Key resistance holds at 430.


Research Report call:

Technical Chart:
Aluminium 7/18/2018 8:25:00 AM

Technical outlook

Aluminium daily chart has formed “Ascending broadening wedge” pattern. The last session ended up forming an “Engulfing bearish candlestick” inside the channel. The market is expected to continue on the bearish term, testing all the way through 136-134 levels in the upcoming sessions. Alternatively, if the market breaks above key resistance holding at 142 then it might turn bullish once again. Key support holds at 134.


Research Report call:

Technical Chart:
Crude Oil 7/18/2018 8:19:00 AM

Technical outlook

MCX Crude Oil futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions been bearish in trend rallying towards the channel’s support slope line. As per the technical aspects, the market is expected to continue on bearish momentum. The negative rally could be testing all the way through 4600-4550 levels in the upcoming sessions.

 

Crude oil Inventory forecast:

Time

Actual 

Forecast

Previous

API Weekly Crude Oil Stock    

2:00 AM

0.629M

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-6.796M

Tonight

 

 

 

 

Crude Oil Inventories

8:00 PM

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-3.622M

-12.633M

EIA Weekly Distillates Stocks 8Pm

8:00 PM

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0.873M

4.125M

Gasoline Inventories

8:00 PM

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-0.044M

-0.694M

 

An alternative scenario indicates that if the market been able to breaks above a key resistance zone now holding at 4750, then it might have a chance to revise the trend to bullish once again. Key support holds at 4550.


Research Report call:

Technical Chart:
Gold 7/18/2018 8:09:00 AM

Technical outlook

MCX Gold futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last few sessions ended up bearish in trend inside the channel, where the market is expected to continue on the same trend. The negative rally could extend all the way through 29600-29500 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the market been able to break above a key resistance holding at 30000, then it might have a chance to turn bullish once again. Key support holds at 29500.


Research Report call:

Technical Chart:
Zinc 7/17/2018 9:58:00 AM

Technical outlook

Zinc daily chart has formed “Falling channel” pattern. The last session ended up strongly bearish in trend near the channel’s support slope line. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 170. The downside rally could be testing all the way through 168-166 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 175-180 levels. Key resistance holds at 180.


Research Report call:

Technical Chart:
Silver 7/17/2018 9:54:00 AM

Technical outlook

Silver daily chart has formed “Rising channel” pattern. The last few sessions ended up bearish in trend after rallying towards the channel’s support slope line. As per the technical aspects of the pattern, the market is expected to continue on bearish term for a while to retest the support line and turn bullish. The upside rally could be testing all the way through 39200-39500 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 38700, then it might continue in bearish trend. The downside rally could test 38500-38000 levels. Key resistance holds at 39500.


Research Report call:

Technical Chart:
Nickel 7/17/2018 9:51:00 AM

Technical outlook

Nickel 4hr chart has formed “Descending broadening wedge” pattern. The last few sessions ended up bearish near the channel’s support slope line. The market is expected to continue on the bearish momentum, once the same breaks below a key support holding at 925. The downside rally could be testing all the way through 915-900 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 935-950 levels. Key resistance holds at 950.


Research Report call:

Technical Chart:
Natural Gas 7/17/2018 9:46:00 AM

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up bearish in trend retesting the pattern’s support level. The market is expected to continue in bearish term, once the same breaks below a key support holding at 188. The downside rally could test all the way through 185-180 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 192-196 levels. Key resistance holds at 196.


Research Report call:

Technical Chart:
Lead 7/17/2018 9:43:00 AM

Technical outlook

Lead daily chart has formed “Right angled descending broadening wedge” pattern. The last session ended up bearish in trend rallying towards the channel’s support slope line. The market is expected to continue on the bearish momentum, testing all the way through 146-144 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 150. The upside rally could test 153-155 levels. Key support holds at 144.


Research Report call:

Technical Chart:
Copper 7/17/2018 9:37:00 AM

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last few sessions ended up consolidated but bearish in trend near the channel’s support slope line. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 419. The downside rally could be testing all the way through 415-410 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 425-430 levels. Key resistance holds at 430.


Research Report call:

Technical Chart:
Aluminium 7/17/2018 9:34:00 AM

Technical outlook

Aluminium daily chart has formed “Falling channel” pattern. The last session ended up bullish in trend after retesting near the channel’s support slope line. The market is expected to continue on the bullish term, testing all the way through 143-146 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 139 then it might turn bearish once again. The downside rally could test 138-136 levels. Key resistance holds at 146.


Research Report call:

Technical Chart:
Crude Oil 7/17/2018 9:20:00 AM

Technical outlook

MCX Crude Oil futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last session’s been a strong bearish one rallying towards the channel’s support slope line. As per the technical aspects, the market is expected to open on a gap up formation continue on bearish momentum. The negative rally could be testing all the way through 4600-4550 levels in the upcoming sessions. An alternative scenario indicates that if the market been able to breaks above a key resistance zone now holding at 4780, then it might have a chance to revise the trend to bullish once again. Key support holds at 4550.


Research Report call:

Technical Chart:
Gold 7/17/2018 9:13:00 AM

Technical outlook

MCX Gold futures technical chart has taken the formation of “Descending broadening wedge” pattern in daily time frame. Last few sessions ended up bearish in trend retesting near the channel’s support slope line, where the market is expected to continue on the bearish momentum. The sell signal will be confirmed once the market breaks below a key support holding near 30050. The negative rally could extend all the way through 29950-29800 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong, then it might retest the same and revise to bullish momentum. The upside rally could test 30200-30350-30500 levels. Key resistance holds at 30500.


Research Report call:

Technical Chart:
Zinc 7/16/2018 10:11:00 AM

Technical outlook

Zinc 4hr chart has formed “Descending broadening wedge” pattern. The last few sessions ended up consolidated after retesting near the channel’s support slope line. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 180. The upside rally could be testing all the way through 182-185 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test 177-174 levels. Key support holds at 174.


Research Report call:

Technical Chart:
Silver 7/16/2018 10:04:00 AM

Technical outlook

Silver daily chart has formed “Rising channel” pattern. The last session ended up bearish in trend after rallying towards the channel’s support slope line. As per the technical aspects of the pattern, the market is expected to continue on bearish term for a while to retest the support line and turn bullish. The upside rally could be testing all the way through 39200-39500 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 38600, then it might continue in bearish trend. The downside rally could test 38300-38000 levels. Key resistance holds at 39500.


Research Report call:

Technical Chart:
Nickel 7/16/2018 9:59:00 AM

Technical outlook

Nickel 4hr chart has formed “Descending broadening wedge” pattern. The last few sessions ended up bearish on a gap up formation inside the channel. The market is expected to continue on the bearish momentum, testing all the way through 945-930 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 980, then it might turn to bullish momentum. The upside rally could test 1000-1015 levels. Key support holds at 930.


Research Report call:

Technical Chart:
Natural Gas 7/16/2018 9:56:00 AM

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up bearish in trend retesting the pattern’s support level. The market is expected to continue in bearish term, once the same breaks below a key support holding at 188. The downside rally could test all the way through 185-180 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 192-196 levels. Key resistance holds at 196.


Research Report call:

Technical Chart:
Lead 7/16/2018 9:53:00 AM

Technical outlook

Lead daily chart has formed “Right angled descending broadening wedge” pattern. The last session ended up bullish in trend after few negative rallies inside the channel. The market is expected to continue on the bullish momentum, testing all the way through 154-158 levels in the upcoming sessions. Alternatively, if the market breaks below key support holding at 148. The downside rally could test 145-140 levels. Key resistance holds at 158.


Research Report call:

Technical Chart:
Copper 7/16/2018 9:49:00 AM

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last few sessions ended up consolidated near the channel’s support slope line. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 419. The downside rally could be testing all the way through 415-410 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 425-430 levels. Key resistance holds at 430.


Research Report call:

Technical Chart:
Aluminium 7/16/2018 9:44:00 AM

Technical outlook

 

Aluminium 4hr chart has formed “Falling wedge” pattern. The last few sessions ended up bearish in trend retesting near the channel’s support slope line. The market is expected to continue on the bearish term, once the same breaks below the key support holding at 139 and give a close on hourly basis. The downside rally could be testing all the way through 137-135 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 141-143 levels. Key resistance holds at 143.


Research Report call:

Technical Chart:
Crude Oil 7/16/2018 9:32:00 AM

Technical outlook

MCX Crude Oil futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last session’s been a bullish one after few negative rallies inside the channel. As per the technical aspects, the market is expected to continue on bullish momentum. The positive rally could be testing all the way through 4950-5000 levels in the upcoming sessions. An alternative scenario indicates that if the market been able to breaks below a key support zone now holding at 4790, then it might have a chance to revise the trend to bearish once again. Key resistance holds at 5000.


Research Report call:

Technical Chart:
Gold 7/16/2018 9:27:00 AM

Technical outlook

MCX Gold futures technical chart has taken the formation of “Descending broadening wedge” pattern in daily time frame. Last few sessions ended up bearish in trend retesting near the channel’s support slope line, where the market is expected to continue on the bearish momentum. The sell signal will be confirmed once the market breaks below a key support holding near 30050. The negative rally could extend all the way through 29950-29800 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong, then it might retest the same and revise to bullish momentum. The upside rally could test 30200-30350-30500 levels. Key resistance holds at 30500.


Research Report call:

Technical Chart:
Zinc 7/13/2018 9:59:00 AM

Technical outlook

Zinc 4hr chart has formed “Descending broadening wedge” pattern. The last session ended up consolidated after retesting near the channel’s support slope line. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 174. The downside rally could be testing all the way through 172-170 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 178-180 levels. Key resistance holds at 180.


Research Report call:

Technical Chart:
Silver 7/13/2018 9:54:00 AM

Technical outlook

Silver daily chart has formed “Rising channel” pattern. The last session ended up bullish in trend after few negative rallies inside the channel. As per the technical aspects of the pattern, the market is expected to continue on bearish term. The downside rally could be testing all the way through 39000-38700 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 39500, then it might continue in bullish trend. The upside rally could test 39800-40100 levels. Key support holds at 38700.


Research Report call:

Technical Chart:
Nickel 7/13/2018 9:50:00 AM

Technical outlook

Nickel 4hr chart has formed “Descending broadening wedge” pattern. The last session ended up bearish on a gap up formation inside the channel. The market is expected to continue on the bearish momentum, testing all the way through 960-940 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 985, then it might turn to bullish momentum. The upside rally could test 1000-1015 levels. Key support holds at 940.


Research Report call:

Technical Chart:
Natural Gas 7/13/2018 9:46:00 AM

Technical outlook

Natural gas daily chart has formed “Right angled ascending broadening wedge” pattern. The last sessions ended up bearish in trend retesting the pattern’s support level. The market is expected to continue in bearish term, once the same breaks below a key support holding at 192. The downside rally could test all the way through 190-188 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 195-198 levels. Key resistance holds at 198.


Research Report call:

Technical Chart:
Lead 7/13/2018 9:43:00 AM

Technical outlook

Lead daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions ended up bearish in trend rallying towards the channel’s support slope line. The market is expected to continue on the bearish trend, testing all the way through 147-145 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 152. The upside rally could test 154-157 levels. Key support holds at 145.


Research Report call:

Technical Chart:
Copper 7/13/2018 9:37:00 AM

Technical outlook

Copper daily chart has formed “Right angled ascending broadening wedge” pattern. The last few sessions ended up bearish in trend as the prices have already broken out the channel’s support slope line. The market is expected to continue on bearish momentum, testing all the way through 418-415 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 428 then it might turn bullish once again. Key support holds at 415.


Research Report call:

Technical Chart:
Aluminium 7/13/2018 9:27:00 AM

Technical outlook

Aluminium 4hr chart has formed “Falling wedge” pattern. The last few sessions ended up bearish in trend retesting near the channel’s support slope line. The market is expected to continue on the bearish term, once the same breaks below the key support holding at 139. The downside rally could be testing all the way through 137-135 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 141-143 levels. Key resistance holds at 143.


Research Report call:

Technical Chart:
Crude Oil 7/13/2018 9:24:00 AM

Technical outlook

MCX Crude Oil futures technical chart has taken the formation of “Rising channel” pattern in daily time frame. Last few sessions indicating strong selling pressure after retesting near the channel’s resistance slope line. As per the technical aspects of the pattern, the market is expected to continue on bearish momentum. The negative rally could be testing all the way through 4700-4620 levels in the upcoming weeks.

 

 U.S. Baker hughes Oil rig count

Time

Actual 

Forecast

Previous

Crude oil - U.S. Baker hughes Oil rig count

10.30 PM

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858

 

An alternative scenario indicates that if the market been able to breaks above a key resistance zone now holding at 4850, then it might have a chance to revise the trend to bullish once again. Key support holds at 4620.


Research Report call:

Technical Chart:
Gold 7/13/2018 9:18:00 AM

Technical outlook

MCX Gold futures technical chart has taken the formation of “Descending broadening wedge” pattern in daily time frame. Last few sessions ended up bearish in trend near the channel’s support slope line, where the market is expected to continue on the bearish momentum. The sell signal will be confirmed once the market breaks below a key support holding near 30100. The negative rally could extend all the way through 30000-29900 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong, then it might retest the same and revise to bullish momentum. The upside rally could test 30250-30400 levels. Key resistance holds at 30500.


Research Report call:

Technical Chart:
Zinc 7/12/2018 10:20:00 AM

Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last session ended up bearish in trend retesting near the channel’s support slope line. The market is expected to continue on bullish momentum, testing all the way through 180-185 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 174 then it might turn bearish once again. The downside rally could test 170-168 levels. Key resistance holds at 185.


Research Report call:

Technical Chart:
Silver 7/12/2018 10:15:00 AM

Technical outlook

Silver daily chart has formed “Rising channel” pattern. The last few sessions ended up bearish in trend inside the channel. As per the technical aspects of the pattern, the market is expected to continue on bearish term. The downside rally could be testing all the way through 39000-38800 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 39500, then it might turn to bullish term. The upside rally could test 39800-40100 levels. Key support holds at 38800.


Research Report call:

Technical Chart:
Nickel 7/12/2018 10:12:00 AM

Technical outlook

Nickel 4hr chart has formed “Descending broadening wedge” pattern. The last session ended up bullish after retesting the channel’s support slope line. The market is expected to continue on the bullish momentum, testing all the way through 970-990 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 935, then it might turn to bearish momentum. The downside rally could test 920-910 levels. Key support holds at 910.


Research Report call:

Technical Chart:
Natural Gas 7/12/2018 10:04:00 AM

Technical outlook

Natural gas daily chart has formed “Right angled ascending broadening wedge” pattern. The last sessions ended up bullish in trend retesting the pattern’s support level. The market is expected to continue in bullish term, testing all the way through 195-200 levels in the upcoming sessions. Alternatively, if the market breaks below the support level holding at 192 then it might turn bearish once again. The downside rally could test 190-185 levels. Key resistance holds at 200.


Research Report call:

Technical Chart:
Lead 7/12/2018 9:59:00 AM

Technical outlook

Lead daily chart has formed “Falling wedge” pattern. The last few sessions ended up bearish in trend as the prices have broken out the channel’s support slope line. The market is expected to continue on the bearish trend, once the same breaks below major support holding at 150. The downside rally could be testing all the way through 148-146 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 154-157 levels. Key resistance holds at 157.


Research Report call:

Technical Chart:
Copper 7/12/2018 9:54:00 AM

Technical outlook

Copper daily chart has formed “Right angled ascending broadening wedge” pattern. The last few sessions ended up bearish in trend as the prices have broken out the channel’s support slope line. The market is expected to continue on bearish momentum, testing all the way through 415-410-405 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 428 then it might turn bullish once again. Key support holds at 405.


Research Report call:

Technical Chart: