Commodity Report

Zinc 11/14/2018 10:01:00 AM
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Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up consolidated but also bearish in overall trend inside the channel. The market is expected to continue on bearish momentum based on the reversal action, testing all the way through 180 and furthermore levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance zone holding at 187 then it might turn bullish once again. The upside rally could test up to 190-192 levels. Key support holds at 180.


Research Report call:

Technical Chart:
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Silver 11/14/2018 9:58:00 AM
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Technical outlook

MCX Silver futures technical chart has taken the formation of “Megaphone chart” pattern in daily time frame. Last few sessions ended up bearish in trend along with some corrections inside the channel, where the market is expected to continue on the bearish trend. The continuation of the trend will be confirmed once the prices breaks below the key support holding at 36260. The negative rally could be extending all the way up to 36000-35800 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might have a chance to retest the same and revise the trend to bullish once again. The upside rally could test up to 37000 levels. Key resistance holds at 37000.


Research Report call:

Technical Chart:
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Nickel 11/14/2018 9:54:00 AM
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Technical outlook

Nickel daily chart has formed “Ascending broadening wedge” pattern. The last few sessions been in bearish trend 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 812. The downside rally could be testing all the way through 800-790 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 820-840 levels. Key resistance holds at 840.


Research Report call:

Technical Chart:
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Natural Gas 11/14/2018 9:50:00 AM
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Technical outlook

Natural gas daily chart has formed “Rising channel” pattern. The last few sessions ended up bullish in trend along with some corrections, near the channel’s resistance slope line. The market is expected to continue on bearish momentum by retesting the same, testing all the way through 285-280 levels in the upcoming weeks. Alternatively, if the market breaks above the key resistance currently holding at 294 then it might continue on bullish once again. The upside rally could test up to 300 level. Key support holds at 280.


Research Report call:

Technical Chart:
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Lead 11/14/2018 9:45:00 AM
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Technical outlook

Lead daily chart has formed “Megaphone chart” pattern. The last session ended up consolidated after few negative rallies inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below the key support holding at 139. The downside rally could be testing all the way up to 138-136 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 144 level. Key resistance holds at 144.


Research Report call:

Technical Chart:
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Copper 11/14/2018 9:42:00 AM
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Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last few sessions been in bearish in trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below the key support holding at 428. The downside rally could be testing all the way through 426-422 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 440 levels. Key resistance holds at 440.


Research Report call:

Technical Chart:
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Aluminium 11/14/2018 9:38:00 AM
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Technical outlook

Aluminium daily chart has formed “Right angled ascending broadening wedge pattern”. The last few sessions ended up bearish in trend along with some corrections inside the channel. The market is expected to continue on the bearish trend, once the same breaks below a key support zone holding at 140. The downside rally could be testing all the way through 138 and furthermore 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 142-144 and further more levels. Key resistance holds at 144.


Research Report call:

Technical Chart:
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Crude Oil 11/14/2018 9:24:00 AM
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Technical outlook

MCX Crude Oil futures technical chart has taken the formation of “Right angled Ascending broadening wedge” pattern in daily time frame. Previously few sessions ended up bearish in trend near the channel’s support slope line. As per the technical aspects based on the price action, the market is expected to continue on bearish trend. The continuation of the trend will be confirmed once the prices breaks below the key support holding at 4020. The negative rally could be testing all the way up to 3950-3900 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong, then the market might have a chance to retest the same and revise the trend to bullish. Such reversal could possibly test up to 4200-4300 levels. Key resistance holds at 4300.


Research Report call:

Technical Chart:
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Gold 11/14/2018 9:13:00 AM
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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 near an interim trend line inside the channel, where the market is expected to continue on bearish momentum. The continuation of the trend will be confirmed once the prices breaks below the strong junction key support zone holding at 30730. The negative rally could be extending all the way up to 30600-30500 in the upcoming sessions. An alternative scenario indicates that if the key support zone holds strong then the market might have a chance to retest the same and revise the trend to bullish. The upside rally could test up to 30850-30950 levels. Key resistance holds at 30950.


Research Report call:

Technical Chart:
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Zinc 11/13/2018 10:17:00 AM
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Technical outlook

Zinc daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up consolidated near a key resistance zone inside the channel. The market is expected to continue on bearish momentum based on the reversal action, testing all the way through 182-180 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance zone holding at 187 then it might turn bullish once again. The upside rally could test up to 192 levels. Key support holds at 180.


Research Report call:

Technical Chart:
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