Commodity Report

Nickel 4/20/2018 10:15:00 AM

Technical outlook

Nickel daily chart has formed “Rising wedge” pattern. The last session ended up bearish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below the key support holding at 990. The downside rally could test all the way through 970-950 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 1020-1050 levels. Key resistance at holds 1050.


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Technical Chart:
Zinc 4/20/2018 10:05:00 AM

Technical outlook

Zinc daily chart has formed “Broadening right angled descending” pattern along with a “Long-term Rising wedge”. The last session ended up bearish in trend retesting near the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below the key support holding at 212. The downside rally could test all the way through 209-205 levels in 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 215-220 levels. Key resistance holds at 220.


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Technical Chart:
Silver 4/20/2018 9:58:00 AM

Technical outlook

Silver daily chart has formed “Symmetrical triangle” pattern. The last few sessions seems strongly bullish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 40750. The upside rally could test all the way through 41000-41500 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Key Support holds at 40000.


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Technical Chart:
Natural Gas 4/20/2018 9:53:00 AM

Technical outlook

Natural gas daily chart has formed “Bullish Diamond chart” pattern. The last session ended up bearish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below the key support holding at 175. The downside rally could test all the way through 173-170 levels in the upcoming sessions. Alternatively, if the support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 178-182 levels. Key resistance holds at 182.


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Technical Chart:
Lead 4/20/2018 9:49:00 AM

Technical outlook

Lead daily chart has formed “Rising wedge” pattern. The last session ended up consolidated near an interim resistance slope line inside the channel. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 156.50. The upside rally could test all the way through 160-165 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 153-150 levels. Key support at holds 150.


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Technical Chart:
Copper 4/20/2018 9:46:00 AM

Technical outlook

Copper daily chart has formed “Rising channel” pattern. The last session ended up bearish in trend breaking an interim resistance slope line inside the channel. The market is expected to continue in bearish momentum, once the same breaks below a key support holding at 455. The downside rally could test all the way through 450-445 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 460-465 levels. Key resistance holds at 465.


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Technical Chart:
Aluminium 4/20/2018 9:43:00 AM

Technical outlook

Aluminium hourly chart has formed “Rising channel” pattern. The last session ended up bearish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, testing all the way through 168-172 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 160 then it might have a chance to turn bearish. The downside rally could test 158-155 levels. Key resistance holds at 172.


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Technical Chart:
Gold 4/20/2018 9:25:00 AM

Gold prices grazed back some of their losses brushing aside a move higher in the dollar and a surge in bond yields.

The U.S. bond 10Y yields rose above 2.9% as traders bet that inflation and economic growth would remain firm in the wake of stronger Philly Fed data signalling a continued expansion in input prices.

The Philadelphia Fed said Thursday its manufacturing index rose to a reading of 23.2, a three-month high, from 20.8 in April.

Investors’ stance on price increases was also boosted by the Federal Reserve’s Beige Book report released Wednesday, signifying that consumer inflation could be set on a path higher as rising input costs were expected to be passed onto consumers.

 

Technical outlook

Gold daily chart has formed “Rising channel” patterns. The last session has formed a “Hammer” candlestick pattern which could be read as a trend reversal one. The market is expected to retest a key resistance holding at 31600 and turn bearish. The downside rally could test all the way through 31500-31400 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance then it might continue in bullish momentum. The upside rally could test 31700-31800 levels. Key support holds at 31400.


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Technical Chart:
Crude Oil 4/20/2018 9:19:00 AM

Oil prices were positive on Friday near three-year highs reached earlier this week as ongoing OPEC-led supply cuts gradually drawn down excess supplies.

The producer union of the Organization of the Petroleum Exporting Countries (OPEC) has been withholding production since 2017 which is led by Saudi Arabia to draw down a global supply extension that had depressed crude prices between 2014 and 2016.

Brent and WTI hit their highest levels since November, 2014 earlier this week, at $74.75 and $69.56 per barrel respectively.

The tighter oil market is also starting to feed into refined products, which use crude as their main feedstock to make fuels such as gasoline or diesel.

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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-----

815

 

Technical outlook

Crude oil daily chart has formed “Ascending triangle” pattern. The last few sessions been bullish in trend as the prices have already broken out the pattern’s horizontal resistance line. The market is expected to continue in bullish momentum, testing all the way through 4550-4600 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 4350 then it might turn bearish. Key resistance holds at 4600.


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Technical Chart:
Zinc 4/19/2018 9:49:00 AM

Technical outlook

Zinc daily chart has formed “Falling wedge” pattern along with a “Long-term Rising wedge”. The last session ended up strongly bullish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 216. The upside rally could test all the way through 220-225 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test 212-208 levels. Key support holds at 208.


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Technical Chart:
Silver 4/19/2018 9:46:00 AM

Technical outlook

Silver daily chart has formed “Symmetrical triangle” pattern. The last few sessions seems strongly bullish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 40500. The upside rally could test all the way through 41000-41500 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Key Support holds at 40000.


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Technical Chart:
Nickel 4/19/2018 9:44:00 AM

Technical outlook

Nickel daily chart has formed “Ascending channel” pattern. The last few sessions ended up strongly bullish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, testing all the way through 1025-1050 and further more levels in the upcoming sessions. Alternatively, if the market breaks below the previous resistance level which is now support at 975 then it might turn to bearish momentum. Near Key resistance at holds 1050.


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Technical Chart:
Natural Gas 4/19/2018 9:42:00 AM

Technical outlook

Natural gas daily chart has formed “Bullish Diamond chart” pattern. The last few sessions ended up bullish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 182.50. The upside rally could test all the way through 185-188 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Key support at holds 175.


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Technical Chart:
Lead 4/19/2018 9:40:00 AM

Technical outlook

Lead daily chart has formed “Falling wedge” pattern. The last session ended up strongly bullish in trend near the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 157. The upside rally could test all the way through 160-165 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. Key support at holds 150.


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Technical Chart:
Copper 4/19/2018 9:38:00 AM

Technical outlook

Copper daily chart has formed “Ascending broadening wedge” pattern. The last session ended up strongly bullish in trend near as interim resistance slope line inside the channel. The market is expected to continue in bullish momentum, once the same breaks above a key resistance holding at 460. The upside rally could test all the way through 465-470 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. Key support holds at 450.


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Technical Chart:
Aluminium 4/19/2018 9:36:00 AM

Technical outlook

Aluminium daily chart has formed “Ascending broadening wedge” pattern. The last few sessions been strongly bullish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, testing all the way through 170-172 levels in the upcoming sessions. Alternatively, if the market breaks below a major support holding at 160 then it might have a chance to turn bearish. Key resistance holds at 172.


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Technical Chart:
Crude Oil 4/19/2018 9:24:00 AM

Crude oil prices edged above $68 a barrel for the first time since late 2014 as traders were optimistic on data revealing an unexpected drop in crude stockpiles, while a draw in product inventories also supported sentiment.

According to data from the EIA - Inventories of U.S. crude unexpectedly dropped by 1.071 million barrels for the week ended April 12, confounding expectations for a rise of 0.5 million barrels.

Gasoline inventories dropped by 2.968 million barrels, beating expectations for a decline of 0.227 million barrels, while supplies of distillate dropped by 3.107 million barrels, beating expectations for a draw of 0.268 million barrels.

The EIA reported - Total domestic crude production edged up by 15,000 barrels a day last week to 10.54 million barrels a day.

 

Technical outlook - Long term analysis

Crude oil weekly chart has formed “Rising wedge” pattern. The last few weekly sessions been bullish in trend and has ended up near the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above a key resistance holding at $70(4605). The upside rally could test all the way through $75-80(4934-5263) levels in the upcoming weeks. Alternatively, if the key resistance holds strong then the market might retest the same and give a correction over negative momentum. Key support holds at $60(3947).


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Technical Chart:
Gold 4/19/2018 9:17:00 AM

Gold prices were supported as an unresponsive dollar continued to underpin upside in the precious metal despite easing geopolitical tensions.

Gold prices continued to resist the drop in safe-haven demand which followed reports of easing U.S.-North Korea tensions.

A “good relationship” was formed between the U.S. and North Korea after CIA director Mike Pompeo travelled to Pyongyang for a secret meeting with North Korean leader Kim Jong-un, US President Donald Trump confirmed.

That raised the outlook of a positive outcome from the Trump-Kim summit – the particulars of which are yet to be finalised.

 

Technical outlook

Gold daily chart has formed “Rising channel” patterns. The last few sessions ended up in bullish trend as the prices have broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, testing all the way through 31600-31700 levels in the upcoming sessions. Alternatively, if the market breaks below the keys support holding at 31400 then it might turn bearish once again. The downside rally could test 31300-31200 levels. Key resistance holds at 31700.


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Technical Chart:
Zinc 4/18/2018 10:03:00 AM

Technical outlook

Zinc daily chart has formed “Falling wedge” pattern along with a “Long-term Rising wedge”. The last session ended up bullish in trend retesting near a key resistance holding at 208.50. The market is expected to continue in bullish momentum, testing all the way through 210-212 levels in upcoming sessions. Alternatively, if the market breaks below the key support holding at 202 then it might turn bearish once again. The downside rally could test 200-198 levels. Key resistance holds at 212.


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Technical Chart:
Silver 4/18/2018 10:00:00 AM

Technical outlook

Silver daily chart has formed “Symmetrical triangle” pattern. The last few sessions seems consolidated as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 39500. The upside rally could test all the way through 39700-40000 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Key Support holds at 39000.


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Technical Chart:
Nickel 4/18/2018 9:57:00 AM

Technical outlook

Nickel daily chart has formed “Bullish rectangle chart” pattern. The last few sessions ended up bullish in trend as the prices have already broken out the pattern’s horizontal resistance line. The market is expected to continue in bullish momentum, testing all the way through 950-970 levels in the upcoming sessions. Alternatively, if the market breaks below the previous resistance level which is now support at 910 then it might turn to bearish momentum. Key resistance at holds 970.


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Technical Chart:
Natural Gas 4/18/2018 9:54:00 AM

Technical outlook

Natural gas daily chart has formed “Bullish Diamond chart” pattern. The last few sessions ended up bullish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 182. The upside rally could test all the way through 185-188 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Key support at holds 175.


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Technical Chart:
Lead 4/18/2018 9:53:00 AM

Technical outlook

Lead daily chart has formed “Falling wedge” pattern. The last few sessions ended up bullish in trend after retesting the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 155.50. The upside rally could test all the way through 156.50-158 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 all the way through 153-150 levels. Key support at holds 150.


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Technical Chart:
Copper 4/18/2018 9:51:00 AM

Technical outlook

Copper 4hr chart has formed “Rising channel” pattern. The last few sessions ended up consolidated after retesting the channel’s support slope line. The market is expected to continue in bullish momentum, once the same breaks above a key resistance holding at 450. The upside rally could test all the way through 452-454 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test 446-443 levels. Key support holds at 443.


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Technical Chart:
Aluminium 4/18/2018 9:47:00 AM

Technical outlook

Aluminium daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bullish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 160. The upside rally could test all the way through 161-162 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 158-155-152.50 levels. Key support holds at 152.50.


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Technical Chart:
Crude Oil 4/18/2018 9:25:00 AM

Oil prices settled higher on Wednesday morning, boosted by a reported drop in U.S. crude inventories and by the ongoing risk of supply disruptions.

In the United States, crude inventories fell by 1 million barrels last week, to 428 million barrels, according to a weekly report by the American Petroleum Institute (API) on Tuesday.

Official weekly U.S. data will be published by the Energy Information Administration (EIA) on Wednesday.

Outside the United States, oil markets have been receiving general support due to a sense that there were high risks of supply disruptions, including a potentially spreading conflict in the Middle East, renewed U.S. sanctions against Iran and falling output as a result of political and economic crisis in Venezuela.

The premium for June 2018 over June 2019 prices for Brent and WTI is $5.5 and $6 per barrel, respectively, a market structure known as backwardation in which it is attractive for producers and traders to sell crude immediately instead of keeping it in storage for later sale.

Crude oil Inventory forecast:

Time

Actual

Forecast

Previous

API Weekly Crude Oil Stock

 

-1.047M

0.625M

1.758M

Tonight

       

Crude Oil Inventories

8:00 PM

-----

-0.5M

3.3M

EIA Weekly Distillates Stocks 8Pm

8:00 PM

-----

-0.268M

-1.044M

Gasoline Inventories

8:00 PM

-----

-0.277M

0.458M

Technical outlook

Crude oil daily chart has formed “Rising channel” pattern. The last few sessions seems consolidated but bearish in trend after retesting the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below the key support holding at 4300. The downside rally could test all the way through 4250-4200 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 4360-4400 levels. Key resistance holds at 4400.


Research Report call:

Technical Chart:
Gold 4/18/2018 9:17:00 AM

Gold prices bounced off session lows on Tuesday as the dollar recoiled from its highs despite positive economic data pointing to underlying strength in the U.S. economy.

Demand for safe-haven gold remained subdued in the wake of waning geopolitical tensions and rallying global stock markets.

Easing geopolitical jitters come as investors continued to cheer no further signs of U.S. military action in Syria, while U.S. President Donald Trump’s decision to scrap new sanctions against Russia - which were slated for Monday - also helped improve sentiment on riskier assets, denting demand for gold.

Technical outlook

Gold daily chart has formed “Rising channel” patterns. The last session ended up in bullish trend near the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 31400. The upside rally could test all the way through 31500-31600 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test 31300-31200 levels. Key support holds at 31200.


Research Report call:

Technical Chart:
Zinc 4/17/2018 10:01:00 AM

Technical outlook

Zinc daily chart has formed “Falling wedge” pattern along with a “Long-term Rising wedge”. The last session ended up bullish in trend after retesting a key support holding at 202.50. The market is expected to continue in bullish momentum, testing all the way through 208-210 levels in upcoming sessions. Alternatively, if the market breaks below the key support then it might turn bearish once again. The downside rally could test 200-198 levels. Key resistance holds at 210.


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Technical Chart:
Silver 4/17/2018 9:58:00 AM

Technical outlook

Silver daily chart has formed “Symmetrical triangle” pattern. The last few sessions seems consolidated as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 39200. The upside rally could test all the way through 39350-39500 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. The downside rally could test 38900-38600 levels. Key Support holds at 38600.

 


Research Report call:

Technical Chart:
Nickel 4/17/2018 9:54:00 AM

Technical outlook

Nickel daily chart has formed “Bullish rectangle chart” pattern. The last few sessions ended up bullish in trend as the prices have broken out the pattern’s horizontal resistance line. The market is expected to continue in bullish momentum, testing all the way through 940-950-970 levels in the upcoming sessions. Alternatively, if the market breaks below the previous resistance level which is now support at 910 then it might turn to bearish momentum. Key resistance at holds 970.


Research Report call:

Technical Chart:
Natural Gas 4/17/2018 9:50:00 AM

Technical outlook

Natural gas daily chart has formed “Bullish Diamond chart” pattern. The last few sessions ended up bullish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 182. The upside rally could test all the way through 185-188 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Key support at holds 175.


Research Report call:

Technical Chart:
Lead 4/17/2018 9:47:00 AM

Technical outlook

Lead daily chart has formed “Falling wedge” pattern. The last session ended up bullish in trend after retesting the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 155.50. The upside rally could test all the way through 156.50-158 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 all the way through 153-150 levels. Key support at holds 150.


Research Report call:

Technical Chart:
Copper 4/17/2018 9:44:00 AM

Technical outlook

Copper 4hr chart has formed “Rising channel” pattern. The last session ended up consolidated after retesting the channel’s support slope line. The market is expected to continue in bullish momentum, once the same breaks above a key resistance holding at 450. The upside rally could test all the way through 452-454 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test 446-443 levels. Key support holds at 443.


Research Report call:

Technical Chart:
Aluminium 4/17/2018 9:41:00 AM

Technical outlook

Aluminium 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 resistance slope line. The market is expected to continue in bullish momentum, testing all the way through 158-160 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 155 then it might turn bearish. The downside rally could test 154-152 levels. Key resistance holds at 160.


Research Report call:

Technical Chart:
Crude Oil 4/17/2018 9:26:00 AM

Crude oil prices withdrew from more than three-year highs as geopolitical tensions calmed, while concerns over continued U.S. oil expansion returned after U.S. oil rig counts jumped to a three-year high.

Easing geopolitical tensions come as investors don’t expect any further occurrences of U.S. military action in Syria, expressing relief somewhat that the U.S. and Russia avoided any direct conflict in Syria following U.S.-led airstrikes on Saturday.

Crude prices had gained more than 8% last week as traders piled into oil futures, betting that rising geopolitical tensions in the Middle East would threaten supply disruptions, extending the rally in oil prices.

Technical outlook

Crude oil daily chart has formed “Rising channel” pattern. The last session ended up bearish in trend retesting near an interim trend line inside the channel. The market is expected to continue in bearish momentum, once the same breaks below the key support holding at 4325. The downside rally could test all the way through 4300-4275 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 4370-4410 levels. Key resistance holds at 4410.


Research Report call:

Technical Chart:
Gold 4/17/2018 9:21:00 AM

Gold prices resisted to benefit from dollar weakness as fears of a wider conflict in Syria in the wake of recent U.S.-led military intervention receded, denting safe-haven demand.

Gold struggled for direction as gains on the back of dollar weakness were offset by easing fears of further conflict in Syria after the U.S. and Russia avoided any direct conflict following U.S.-led airstrikes on Saturday.

The weakness in safe-haven demand comes despite U.S. President Donald Trump racketing up the pressure on the both China and Russia, asserting that they were playing the “currency devaluation game,” declaring it unacceptable in the wake of increasing U.S. interest rates.

Technical outlook

Gold daily chart has formed “Rising channel” patterns. The last session been a gap up one ended up in bullish trend. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 31400. The upside rally could test all the way through 31500-31600 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test 31250-31100 levels. Key support holds at 31000.


Research Report call:

Technical Chart:
Zinc 4/16/2018 9:56:00 AM

Technical outlook

Zinc daily chart has formed “Rising channel” 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 in bearish momentum, testing all the way through 200-198-195 levels in upcoming sessions. Alternatively, the market might also have a chance on giving a small correction over positive momentum. Key resistance holds at 205.


Research Report call:

Technical Chart:
Silver 4/16/2018 9:53:00 AM

Technical outlook

Silver daily chart has formed “Symmetrical triangle” pattern. The last few sessions seems consolidated after retesting the channel’s resistance slope line. The market is expected to continue in bearish momentum, testing all the way through 38600-38300 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance holding at 39000 then it might turn bullish once again. The upside rally could test 39200-39500 levels. Key Support holds at 38300.


Research Report call:

Technical Chart:
Nickel 4/16/2018 9:50:00 AM

Technical outlook

Nickel daily chart has formed “Bearish megaphone chart” pattern. The last session ended up bullish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to retest a major resistance holding at 910 and turn bearish. The downside rally could test all the way through 900-890 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level then it might continue in bullish momentum. The upside rally could test 920-930 levels. Key support at holds 890.


Research Report call:

Technical Chart:
Natural Gas 4/16/2018 9:48:00 AM

Technical outlook

Natural gas daily chart has formed “Bullish Diamond chart” pattern. The last session ended up bullish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 180. The upside rally could test all the way through 182-184 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. The downside rally could test 177-175 levels. Key support at holds 175.


Research Report call:

Technical Chart:
Lead 4/16/2018 9:45:00 AM

Technical outlook

Lead daily chart has formed “Falling wedge” pattern. The last few sessions been bearish in trend after retesting the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below the key support holding at 149. The downside rally could test all the way through 147.50-146 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 all the way through 152-154 levels. Key resistance at holds 155.


Research Report call:

Technical Chart:
Copper 4/16/2018 9:42:00 AM

Technical outlook

Copper daily chart has formed “Rising channel” pattern. The last session ended up retesting near the channel’s support slope line. The market is expected to continue in bearish momentum, once the same breaks below a key support holding at 440. The downside rally could test all the way through 438-435 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 445-448 levels. Key resistance holds at 450.


Research Report call:

Technical Chart:
Aluminium 4/16/2018 9:39:00 AM

Technical outlook

Aluminium daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bearish in trend retesting the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below the key support holding at 148.50. The downside rally could test all the way through 147-145 levels in the upcoming weeks. Alternatively, if the market breaks above the key resistance then it might continue in bullish momentum. The upside rally could test 153.50-155 levels. Key resistance holds at 152.50.


Research Report call:

Technical Chart:
Crude Oil 4/16/2018 9:26:00 AM

Oil prices fell on Monday as markets opened the week cautiously following western air strikes in Syria over the weekend, and as American drilling for new production continued to rise.

The United States, France and Britain launched 105 missiles on Saturday, targeting what they said were three chemical weapons facilities in Syria in retaliation for a suspected poison gas attack in Douma on April 7.

U.S. energy companies added seven oil rigs drilling for new production in the week to April 13, bringing the total to 815, the highest since March 2015, energy services firm Baker Hughes said on Friday.

 

Technical outlook

Crude oil daily chart has formed “Rising channel” pattern. The last few sessions ended up bullish in trend near the channel’s resistance slope line. The market is expected to retest a key resistance holding at 4415 and turn bearish. The downside rally could test all the way through 4350-4300 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance then it might continue in bullish momentum. The upside rally could test 4450-4500 levels. Key support holds at 4300.


Research Report call:

Technical Chart:
Gold 4/16/2018 9:17:00 AM

Gold prices traded close to session highs on Friday supported by ongoing safe-haven demand as underlying geopolitical tensions and U.S.-China trade-war fears persisted.

The White House is planning to ramp up trade pressure on China by threatening to block Chinese technology investment in the United States, The Wall Street Journal reported, citing officials familiar with the matter.

That added to safe-haven demand, supporting an uptick in gold prices, as geopolitical tensions persisted after Russia accused the UK of staging the reported chemical attack in Syria.

The dollar struggled to pare losses this week despite the Federal Reserve releasing somewhat hawkish minutes of its March meeting this week.

Technical outlook

Gold daily chart has formed “Rising channel” patterns. The last few sessions seems consolidated as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below the key support holding at 31000. The downside rally could test all the way through 30900-30800 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 31200-31300 levels. Major resistance holds at 31500.


Research Report call:

Technical Chart:
Zinc 4/13/2018 10:00:00 AM

Technical outlook

Zinc daily chart has formed “Rising channel” pattern. The last session ended up bearish in trend as the prices have broken out the channel’s support slope line. The market is expected to continue in bearish momentum, testing all the way through 198-195-191 levels in upcoming sessions. Alternatively, the market might also have a chance on giving a small correction over positive momentum. Key resistance holds at 208.


Research Report call:

Technical Chart:
Silver 4/13/2018 9:56:00 AM

Technical outlook

Silver daily chart has formed “Symmetrical triangle” pattern. The last session ended up bearish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to continue in bearish momentum, testing all the way through 38400-38000 levels in the upcoming sessions. Once the market reaches the support level holding at 38000, it might retest the same and turn bullish once again. Alternatively, if the market breaks above the key resistance holding at 39300 then it might turn bullish once.


Research Report call:

Technical Chart:
Nickel 4/13/2018 9:52:00 AM

Technical outlook

Nickel daily chart has formed “Bearish megaphone chart” pattern. The last session ended up retesting near the channel’s resistance slope line. The market is expected to retest a major resistance holding at 900 and turn bearish. The downside rally could test all the way through 890-880 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level then it might continue in bullish momentum. The upside rally could test 910-920 levels. Key support at holds 880.


Research Report call:

Technical Chart:
Natural Gas 4/13/2018 9:49:00 AM

Technical outlook

Natural gas daily chart has formed “Ascending broadening wedge” pattern. The last few sessions seems consolidated but ended up bullish in trend. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 177. The upside rally could test all the way through 180-182 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. The downside rally could test 173-170 levels. Key support at holds 170.


Research Report call:

Technical Chart:
Lead 4/13/2018 9:46:00 AM

Technical outlook

Lead daily chart has formed “Descending triangle” pattern. The last session ended up bearish in trend retesting near the major support holding at 152. The market is expected to retest the support once again and turn bullish. The upside rally could test all the way through 154-156 levels in the upcoming sessions. Alternatively, if the market breaks below the support then it might continue in bearish momentum. The downside rally could test all the way through 150-148 levels. Key resistance at holds 156.


Research Report call:

Technical Chart:
Copper 4/13/2018 9:43:00 AM

Technical outlook

Copper daily chart has formed “Symmetrical triangle” pattern. The last session ended up bearish in trend after retesting the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below a key support holding at 440. The downside rally could test all the way through 438-435 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 445-448 levels. Key resistance holds at 450.


Research Report call:

Technical Chart:
Aluminium 4/13/2018 9:36:00 AM

Technical outlook

Aluminium daily chart has formed “Ascending broadening wedge” pattern. The last few sessions been strongly bullish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to retest a key resistance holding at 153.50 and turn bearish. The downside rally could test all the way through 150-145 levels in the upcoming weeks. Alternatively, if the market breaks above the key resistance then it might continue in bullish momentum. The upside rally could test 155-156 levels. Key support holds at 145.


Research Report call:

Technical Chart:
Crude Oil 4/13/2018 9:21:00 AM

Crude oil prices edged three-year highs amid ongoing expectations that geopolitical tensions in the Middle East could add a possible ‘fear premium’ to oil, while continued OPEC cuts supported sentiment.

Geopolitical tensions eased somewhat on Thursday after U.S. President Donald Trump said military action in Syria may not be imminent, backtracking from his aggressive stance on Wednesday. But traders continued to bet that geopolitical tensions in the oil-rich Middle East, could lead to supply disruptions, supporting a further rally in oil.

RBC said "In our view the intensification of these proxy fights further dims any hope of the White House remaining in the Iranian nuclear deal when the sanctions waivers once again come up for renewal."

OPEC output fell by 201,400 barrels a day last month, the most since November, to 31.96 million barrels a day, led by Venezuela, Saudi Arabia and Libya.

However, concerns linger over non-OPEC production, which was revised higher for the fifth-straight month to more than 1.7 million barrels a day this year, led by ongoing expansion in U.S. oil output.

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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808

 

Technical outlook

Crude oil daily chart has formed “Rising channel” pattern. The last few sessions ended up bullish in trend near the channel’s resistance slope line. The market is expected to retest a key resistance holding at 4400 and turn bearish. The downside rally could test all the way through 4340-4280 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance then it might continue in bullish momentum. The upside rally could test 4450-4500 levels. Key support holds at 4280.


Research Report call:

Technical Chart:
Gold 4/13/2018 9:18:00 AM

Gold prices lingered above session lows as traders discarded safe-haven assets after geopolitical tensions calmed as U.S. President Donald Trump backed away from his aggressive stance on military intervention in Syria.

U.S. President Donald Trump said military action in Syria may not be imminent, backtracking from his aggressive stance on Wednesday, when he warned Russia to prepare to intercept “nice, new, and smart” missiles.

Gold prices were rolling from a hawkish Federal Reserve minutes released Wednesday showing policymakers wait confident that inflation would hit the Fed’s 2% target, lifting expectations for a June rate hike.

Technical outlook

Gold daily chart has formed “Rising channel” patterns. The last session ended up bearish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below the key support holding at 30900. The downside rally could test all the way through 30800-30700 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 31150-31250 levels. Key resistance holds at 31500.


Research Report call:

Technical Chart:
Zinc 4/12/2018 10:15:00 AM

Technical outlook

Zinc 4hr chart has formed “Rectangle chart” pattern. The last session ended up bearish in trend retesting a key resistance holding at 212.50. The market is expected to continue in bearish momentum, testing all the way through 208-206-204 levels in upcoming sessions. Alternatively, if the market breaks above the key resistance then it might turn bullish. The upside rally could test 214-216 levels. Key support holds at 204.


Research Report call:

Technical Chart:
Silver 4/12/2018 10:11:00 AM

Technical outlook

Silver daily chart has formed “Symmetrical triangle” pattern. The last few sessions ended up bullish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above a key resistance holding at 39250. The upside rally could test all the way through 39500-39700 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 39150-38900 levels. Key support holds at 38900.


Research Report call:

Technical Chart:
Nickel 4/12/2018 10:09:00 AM

Technical outlook

Nickel daily chart has formed “Desending megaphone chart” pattern. The last few sessions ended up bullish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 900. The upside rally could test all the way through 910-915 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 895-890 levels. Key support at holds 890.


Research Report call:

Technical Chart:
Natural Gas 4/12/2018 9:57:00 AM

Technical outlook

Natural gas daily chart has formed “Ascending broadening wedge” pattern. The last few sessions seems consolidated but bearish in trend. The market is expected to continue in bearish trend to retest the support level and turn bullish. The downside rally could test all the way through 172-170 levels in the upcoming sessions. Once the market reaches the support and turn bullish, the upside rally could test 175-180 levels. Alternatively, if the market breaks below the key support then it might continue in bearish momentum. Key resistance at holds 180.


Research Report call:

Technical Chart:
Lead 4/12/2018 9:52:00 AM