Commodity Report

Zinc 9/18/2018 10:44:00 AM
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Technical outlook:

Zinc daily chart has formed “Descending broadening wedge” pattern. The last session been in bullish trend after few negative rallies inside the channel. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 170. The upside rally could be testing all the way through 172-174 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 up to 166 levels. Key support holds at 166.


Research Report call:

Zinc Buy above 170 target 172-174 stop loss 168.80; Sell below 168 target 167-166 stop loss 169
Technical Chart:
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Silver 9/18/2018 10:38:00 AM
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Technical outlook:

MCX Silver futures technical chart has taken the formation of “Falling wedge” pattern in daily time frame. Last session ended up bullish in trend as the prices have broken out the channel’s resistance slope line, where the market is expected to continue on the same trend based on the price action. The continuation of the trend will be confirmed once the prices breaks above the key resistance zone holding near 37550. The positive rally could be extending all the way up to 37700-37800 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 37000 levels. Key support holds at 37200.


Research Report call:

Silver Buy above 37550 target 37650-37800 stop loss 37400; Sell below 37300 target 37150-37000 stop loss 37450
Technical Chart:
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Nickel 9/18/2018 10:32:00 AM
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Technical outlook:

Nickel daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up in bearish trend near the channel’s support slope line. The market is expected to continue on the bullish trend by retesting support slope line, testing all the way through 905-920 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 885 then it might turn bearish once again. The downside rally could test around 875-860 levels. Key resistance holds at 915.


Research Report call:

Nickel Buy above 895 target 905-920 stop loss 888; Sell below 885 target 875-860 stop loss 893
Technical Chart:
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Natural Gas 9/18/2018 10:27:00 AM
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Technical outlook:

Natural gas daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bullish in trend after few negative rallies inside the channel. The market is expected to continue in bullish term, testing all the way through 207-209 and furthermore levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 199, then it might turn bearish once again. The downside rally could test up to 195 level. Key resistance holds at 209.


Research Report call:

Natural gas Buy above 205 target 207-209 stop loss 203.50; Sell below 203 target 202-201 stop loss 204.20
Technical Chart:
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Lead 9/18/2018 10:22:00 AM
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Technical outlook:

Lead daily chart has formed “Rectangle chart” 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, once the same breaks above a key resistance holding at 151.50. The upside rally could be testing all the way through 153-155 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 up to 145 level. Key support holds at 145.


Research Report call:

Lead Buy above 151.50 target 153-155 stop loss 150; Sell below 148 target 146-145 stop loss 149.20
Technical Chart:
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Copper 9/18/2018 10:16:00 AM
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Technical outlook:

Copper daily chart has formed “Megaphone chart” pattern. The last session been in bullish trend after few negative rallies inside the channel. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 432. The upside rally could be testing all the way through 435-440 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn to bearish once again. The downside rally could test 424 levels. Key support holds at 424.


Research Report call:

Copper Buy above 432 target 435-440 stop loss 430; Sell below 428 target 426-424 stop loss 429.50
Technical Chart:
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Aluminium 9/18/2018 10:11:00 AM
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Technical outlook:

Aluminium daily chart has formed “Ascending broadening wedge pattern”. The last session ended up in bullish trend after few negative rallies inside the channel. The market is expected to continue on the bullish momentum, testing all the way through 148-150-151.50 levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 144 then it might turn bearish once again. The downside could test around 142-140 levels. Key resistance holds at 151.50.


Research Report call:

Aluminium Buy above 147 target 148-150 stop loss 145.80; Sell below 144 target 142-140 stop loss 145.20
Technical Chart:
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Crude Oil 9/18/2018 9:54:00 AM
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Technical outlook:

MCX Crude Oil futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Previously few sessions ended up bullish but still consolidated, retesting a key support zone inside the channel. As per the technical aspects, the market is expected to continue on the same trend. The continuation of the trend will be confirmed once the prices break above a key resistance holding at 5020. The positive rally could be testing all the way up to 5080-5120 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might retest the same and turn bearish. Such breakout could test up to 4900 levels. Key support holds at 4900.


Research Report call:

Crude oil Buy above 5020 target 5080-5120 stop loss 4990; Sell below 4980 target 4940-49000
Technical Chart:
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Gold 9/18/2018 9:31:00 AM
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 Technical outlook:

MCX Gold futures technical chart has taken the formation of “Descending broadening wedge” pattern in daily time frame. Last session ended up in strong bullish after few negative rallies inside the channel, where the market is expected to continue on the same trend based on the price action. The continuation of the trend will be confirmed once the prices breaks above the key resistance zone holding near 30820. The positive rally could be extending all the way up to 30900-31000 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the key resistance zone holds strong then the market might have a chance to retest the same and turn bullish. The downside rally could test up to 30550 levels. Key support holds at 30550.


Research Report call:

Gold Buy above 30820 target 30900-31000 stop loss 30750; Sell below 30700 target 30600-30550 stop loss 30760
Technical Chart:
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Zinc 9/17/2018 10:18:00 AM
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Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last few sessions been in bearish trend ending near a key support zone inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 165. The downside rally could be testing all the way through 164-162 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 up to 172 levels. Key resistance holds at 172.


Research Report call:

Zinc sell below 165 target 164-162 stop loss 166.20; Buy above 167 target 169-172 stop loss 165.80
Technical Chart:
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