Commodity Report

Zinc 8/21/2018 10:28:00 AM
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Technical outlook

Zinc daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up consolidated but bullish in trend retesting near the channel’s support slope line. The market is expected to continue on bullish momentum, testing all the way through 170-172 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 166 and give a close on daily basis, then it might turn bearish once again. The downside rally could test up to 160 levels. Key resistance holds at 172.


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Technical Chart:
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Silver 8/21/2018 10:24:00 AM
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Technical outlook

Silver daily chart has formed “Megaphone chart” pattern. The last few sessions ended up bearish in trend near an interim trend line inside the channel. As per the technical aspects of the pattern, the market is expected to retest the same and turn bullish, which upside rally could be testing all the way through 37050-37300 and furthermore levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 36750 then it might continue in bearish momentum. The downside rally could test 36500-36300 levels. Key resistance holds at 37500.


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Technical Chart:
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Nickel 8/21/2018 10:19:00 AM
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Technical outlook

Nickel 4hr chart has formed “Descending broadening wedge” pattern. The last session ended up bearish in trend retesting near the channel’s resistance slope line. The market is expected to continue on the same trend, be testing all the way through 940-935 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 955 then it might turn bullish once again. The upside rally could test around 960-970 levels. Key support holds at 935.


Research Report call:

Technical Chart:
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Natural Gas 8/21/2018 10:12:00 AM
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Technical outlook

Natural gas daily chart has formed “Ascending broadening wedge” pattern. The last session ended up consolidated bullish in trend retesting near a key resistance zone inside the channel. The market is expected to continue in bullish term, once the same breaks above the current resistance zone holding at 208. The upside rally could be testing all the way through 210-212 and furthermore 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 202 level. Key support holds at 202.


Research Report call:

Technical Chart:
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Lead 8/21/2018 10:08:00 AM
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Technical outlook

Lead daily chart has formed “Rectangle chart” pattern. The last few sessions ended up bearish in trend too as the prices have already broken out an interim support slope line inside the channel. The market is expected to continue on the bearish momentum, testing all the way through 135.50-134 levels in the upcoming sessions. Alternatively, the market might also have a chance on giving a small correction over positive momentum along the way. The correction rally could test 139-140 levels. Key resistance holds at 144 and support at 134.


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Technical Chart:
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Copper 8/21/2018 10:03:00 AM
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Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last few sessions ended up bullish in trend 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 414. The upside rally could be testing all the way through 418-420 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 410-405 levels. Key support holds at 405.


Research Report call:

Technical Chart:
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Aluminium 8/21/2018 9:58:00 AM
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Technical outlook

Aluminium 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 on the bullish momentum, testing all the way through 145-147 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 141.50 then it might turn bearish once again. The downside rally could test 140-138 levels. Key resistance holds at 147.


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Technical Chart:
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Crude Oil 8/21/2018 9:38:00 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 by retesting the channel’s support slope line. As per the technical aspects of the pattern, the market is expected to continue on the same trend. The positive rally could be testing all the way through 4700-4800 levels in the upcoming sessions. An alternative scenario indicates that if the market’s been able to break below a key support holding at 4580 then it might turn bearish breaking the pattern itself. Such breakout rally might test around 4500-4400 levels. Key resistance holds at 4800.


Research Report call:

Technical Chart:
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Gold 8/21/2018 9:32:00 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 in bullish after retesting near an interim support line inside the channel, where the market is expected to continue on the same trend. The continuation of the trend will be confirmed once the market breaks above a key resistance zone holding near 29600. The positive rally could be extending all the way through 29700-29800 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 revise the trend to bearish once again. The downside rally could test up to 29400-29300. Key support holds at 29300.


Research Report call:

Technical Chart:
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Zinc 8/20/2018 9:26:00 AM
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Technical outlook

Zinc daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bullish in trend retesting the channel’s support slope line. The market is expected to continue on bullish momentum, testing all the way through 170-172 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 165 and give a close on daily basis, then it might turn bearish once again. The downside rally could test up to 160 levels. Key resistance holds at 172.


Research Report call:

Technical Chart:
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