Commodity Report

Zinc 2/23/2018 10:21:00 AM

Technical outlook

Zinc hourly chart has formed “Broadening top” pattern. The last session ended up bullish after retesting the channel’s support slope line. The market is expected to retest the resistance level holding at 232.50 and then turn bearish. The downside rally could test all the way through 229-227 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level, then it might turn bullish. The upside rally could test 233.50-235 levels. Support holds at 226.50.


Research Report call:

Technical Chart:
Silver 2/23/2018 10:18:00 AM

Technical outlook

Silver hourly chart has formed “Symmetrical triangle” pattern. The last session ended up retesting the channel’s resistance slope line near 38750. As per the technical aspects of the pattern, the market is expected to continue in bearish momentum. The downside rally could test all the way through 38400-38200 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level, then it might turn bullish. The upside rally could test 39000-39500 levels. Support holds at 38200.


Research Report call:

Technical Chart:
Nickel 2/23/2018 10:14:00 AM

Technical outlook

Nickel 4hr chart has formed “Rounding bottom chart” pattern. The last session ended up bullish after retesting a major support level holding at 870. As per the technical aspects of the pattern, the market is expected to continue in bullish momentum. The upside rally could test all the way through 900-910 levels in the upcoming sessions. Alternatively, if the market breaks below the support level, then it might turn bearish. Resistance holds at 910.


Research Report call:

Technical Chart:
Natural Gas 2/23/2018 10:05:00 AM

Technical outlook

Natural gas hourly chart has formed "Ascending broadening wedge” pattern. The last session seems consolidated near a key support level holding at 171. The market is expected to break the key support and retest the channel’s support slope line and then turn bullish. The upside rally could test all the way through 172-176 levels in upcoming weeks. Alternatively, if the market breaks below the major support level at 169 then it might continue in bearish momentum. Resistance holds at 176.


Research Report call:

Technical Chart:
Lead 2/23/2018 9:59:00 AM

Technical outlook

Lead hourly chart has formed "Falling wedge” pattern. The last session seems 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 the key resistance level at 166.50. The upside rally could test all the way through 168-170 levels in upcoming weeks. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. The downside rally could test all the way through 165-163. Support holds at 163.


Research Report call:

Technical Chart:
Copper 2/23/2018 9:57:00 AM

Technical outlook

Copper 4hr chart has formed "Inverse head and shoulders” pattern. The last session seems bullish in trend and has ended up near the pattern’s neckline. The market is expected to continue in bullish momentum, once the same breaks above the key resistance level at 465. The upside rally could test all the way through 467-470 levels in upcoming weeks. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. The downside rally could test all the way through 460-455. Support holds at 454.


Research Report call:

Technical Chart:
Aluminium 2/23/2018 9:52:00 AM

Technical outlook

Aluminium 4hr chart has formed "Ascending broadening wedge” pattern. The last few sessions seems consolidated but bullish in trend after retesting the channel’s support slope line. The market is expected to continue in bullish momentum, testing all the way through 144-145 levels in upcoming weeks. Alternatively, if the market breaks below the key support level at 141, then sellers might take control over the same. Resistance holds at 145.


Research Report call:

Technical Chart:
Crude Oil 2/23/2018 9:34:00 AM

WTI crude oil prices edged higher after data revealed US domestic oil supplies dropped for the first time in four weeks as exports pitched to record highs.

Inventories of U.S. crude fell by 1.616 million barrels for the week ended Feb. 9, confounding expectations for a rise of 2.355 million barrels.

Gasoline inventories rose by just 261,000 barrels, above expectations for a build of 283,000 barrels, while supplies of distillate fell by 2.422 million barrels, a steeper drop than the 1.460 million barrels forecast.

The upbeat gasoline and distillate supplies data come despite refinery utilization under pressure as refiners remained in a period of maintenance.

The Baker Huges rig count is due to be released later on today.

Technical outlook

Crude oil 4hr chart has formed “Rising channel” pattern. The last session ended up bullish 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 level holding at $63(4088). The upside rally could test all the way through $64-65(4153-4218) 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 $62-61(4023-3958) levels. Support holds at $61(3958).


Research Report call:

Technical Chart:
Gold 2/23/2018 9:27:00 AM

Gold prices were at one-and-a-half week lows on Thursday, as the release of upbeat U.S. jobless claims data was expected to boost further strength to the dollar after the minutes of the Federal Reserves latest policy minutes indicated to the need for further interest rate hikes.

The U.S. Labor Department reported on Thursday that initial jobless claims fell by 7,000 to 222,000 last week, compared to expectations for jobless claims to total 230,000.

The data came a day after the minutes of the Feds January policy meeting showed that central bank officials see increased economic growth and rising inflation as justification to continue to raise interest rates gradually.

Technical outlook

Gold daily chart has formed "Ascending broadening wedge” pattern. The last few sessions seems consolidated near the channel’s support slope line. As per the technical aspects of the pattern, a long-term bullish momentum is indicated in the upcoming session as the 50-day moving average crossovers the 100-day moving average in the technical chart. The market is expected to retest a key support at $1325(30385) and turn bullish. The upside rally could test $1340-1350(30760-31010) levels in upcoming weeks. Alternatively, if the market breaks below the key support, then sellers might take control over the same. Resistance holds at $1350(31010).


Research Report call:

Technical Chart:
Gold 2/22/2018 9:06:00 AM

Gold prices stayed steady after the dollar eased from highs as traders awaited the release of the Federal Reserve’s January meeting minutes for hints on future monetary policy action.

Gold prices steadied a day after suffering its biggest one-day slide in two-and-a-half months which followed a gushed in yields and dollar.

The yellow metal was supported a little by comments from Federal Reserve officials who suggested the Fed’s gradual approach to monetary policy tightening should continue.

Minneapolis Fed president Neel Kashkari suggested the central bank should continue on its current path, and avoid overreacting to one-month upbeat wage and inflation data.

Federal Reserve Bank of Dallas president Robert Kaplan reiterated that the Fed should gradually raise rates in 2018. Kaplan said he expects that inflation will make progress toward 2% over 2018 and the impact of tax-cuts will be seen in 2018.

Technical outlook

Gold daily chart has formed "Ascending broadening wedge” pattern. The last few sessions been bearish in trend after retesting a resistance slope trend line inside the channel. As per the technical aspects of the pattern, a long-term bullish momentum is indicated in the upcoming session as the 50-day moving average crossovers the 100-day moving average in the technical chart. The market is expected to retest a key support at $1320(30240) and turn bullish. The upside rally could test $1340-1350(30740-30990) levels in upcoming weeks. Alternatively, if the market breaks below the key support, then sellers might take control over the same. Resistance holds at $1350(30990).


Research Report call:

Technical Chart:
Zinc 2/21/2018 10:14:00 AM

Technical outlook

Zinc daily chart has formed “Rising wedge” pattern. The last session ended up consolidated near the channel’s resistance slope line. The market is expected to retest the level and turn bearish. The downside rally could test all the way through 227-225 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level holding at 232, then it might turn bullish. The upside rally could test 235-237 levels. Support holds at 225.


Research Report call:

Zinc Sell below 229.50 Target 228-226 Stop losses at 231.50
Technical Chart:
Silver 2/21/2018 10:10:00 AM

Technical outlook

Silver hourly chart has formed “Symmetrical triangle” pattern. The last session ended up bearish near the channel’s support slope line. The market is expected to continue in bearish momentum, once the same breaks below a key support level at 38300. The downside rally could test all the way through 38100-37800 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level holding at 38600, then it might turn bullish.


Research Report call:

Technical Chart:
Nickel 2/21/2018 10:07:00 AM

Technical outlook

Nickel hourly chart has formed “Falling channel” pattern. The last session ended up bearish in trend after retesting the channel’s resistance slope line. As per the technical aspects of the pattern, the market is expected to continue in bearish momentum. The downside rally could test all the way through 870-860 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level holding at 885, then it might turn bullish. The upside rally could test 890-900 levels. Support holds at 860.


Research Report call:

Nickel Sell below 870-873 Target 860-850 Stop loss at 877
Technical Chart:
Natural Gas 2/21/2018 10:04:00 AM

Technical outlook

Natural gas 4hr chart has formed “Rounding bottom chart” pattern. The last session ended up consolidated but indicates bullish momentum. As per the technical aspects of the pattern, the market is expected to continue in bullish momentum. The upside rally could test all the way through 174-178 levels in the upcoming sessions. Alternatively, if the market breaks below the support level holding at 169, then it might turn bearish. Resistance holds at 178.


Research Report call:

Technical Chart:
Lead 2/21/2018 9:59:00 AM

Technical outlook

Lead hourly chart has formed “Ascending broadening wedge” pattern. The last session ended up bullish after retesting the channel’s support slope line. The market is expected to continue in bullish momentum, testing all the way through 169-170 levels in the upcoming sessions. Alternatively, if the market breaks below the support level holding at 167, then it might turn bearish. The downside rally could test 166-165 levels. Resistance holds at 170.


Research Report call:

Technical Chart:
Aluminium 2/21/2018 9:49:00 AM

Technical outlook

Aluminium 4hr chart has formed “Rising channel” pattern. The last session ended up bearish after retesting a slope trend line inside the channel. The market is expected to continue in bearish momentum, testing all the way through 141.50-141 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level holding at 143.50, then it might turn bullish. The upside rally could test 144-145 levels. Support holds at 141.


Research Report call:

Technical Chart:
Gold 2/21/2018 9:24:00 AM

Gold prices were under pressure on Tuesday, as U.S. dollar strength and lower demand for safe-haven assets continued to weigh on the precious metal.

The greenback remained supported against other major currencies despite U.S. shortfall fears. The U.S. deficit is projected to mount near $1 trillion in 2019 following the recent announcement of infrastructure spending and large corporate tax cuts.

Market participants were looking ahead to the minutes of the Feds latest policy meeting, due today, for potential indications on the pace of future rate hikes.

Technical outlook

Gold daily chart has formed “Symmetrical triangle” pattern. The last session ended up bearish near the channel’s support slope line. The market is expected to continue in bullish momentum, once the same breaks below a key support level holding at $1325(30400). The downside rally could test all the way through $1320-1310(30275-30025) levels in the upcoming sessions. Alternatively, if the support holds strong then the market might retest the same and turn bullish. The upside rally could test $1340-1350(30775-31025) levels. Resistance holds at $1350(31025).


Research Report call:

Gold Buy between 30450-30425 Target 30480-30525 Stoploss 30390
Technical Chart:
Zinc 2/20/2018 10:32:00 AM

Technical outlook

Zinc hourly chart has formed “Symmetrical triangle” pattern. The last session ended up bullish near the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above a key resistance level holding at 231. The upside rally could test all the way through 232-233 levels in the upcoming sessions. Alternatively, if market breaks below the key support level at 229.50 then it might turn bearish. The downside rally could test 228-227 levels.


Research Report call:

Zinc Sell on rise 230.30-230.90 Target 228-227.50 Stop loss at 231.50
Technical Chart:
Nickel 2/20/2018 10:18:00 AM

Technical outlook

Nickel daily chart continues in "Broadening top” pattern. The last few sessions seems bearish in trend after retesting the channel’s resistance slope line, reacting with a slope trend line inside the channel. The market is expected to continue in bearish momentum. The downside rally could test all the way through 860-840 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance level holding now at 890 then buyers might take control over the same. The upside rally could test 900-920 levels. Support holds at 840.


Research Report call:

Nickel Sell on rise at 879-883 Target 873-863 Stop loss at 886
Technical Chart:
Lead 2/20/2018 10:10:00 AM

Technical outlook

Lead daily chart has formed "Diamond chart” pattern. The last been ended up bearish retesting near a key resistance level at 169. The market is expected to continue in bearish momentum, once the same breaks below a key support at 166. The downside rally could test all the way through 165-164 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level, then it might turn bullish once again. The upside rally could test 170-172 levels.


Research Report call:

Technical Chart:
Copper 2/20/2018 10:05:00 AM

Technical outlook

Copper daily chart has formed "Descending broadening wedge” pattern. The last been ended up bearish retesting near the channel’s Resistance slope line. The market is expected to continue in bearish momentum. The downside rally could test all the way through 455-450 levels in the upcoming weeks. Alternatively, if the market breaks above the resistance level at 463, then it might turn bullish once again. The upside rally could test 465-470 levels. Support holds at 450.


Research Report call:

Copper Sell on rise around 457.50-458.50 Target 453-451 Stop loss at 461
Technical Chart:
Aluminium 2/20/2018 9:58:00 AM

Technical outlook

Aluminium daily chart has formed "Descending channel” pattern. The last few sessions been strongly 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 the key resistance level at 144. The upside rally could test all the way through 145-146 levels in the upcoming weeks. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test 142-140 levels. Support holds at 140.


Research Report call:

Technical Chart:
Crude Oil 2/20/2018 9:27:00 AM

Oil prices touched their highest level in nearly two weeks on Monday, boosted by a global equity market recovery and tensions in the Middle East, although worries of rising U.S. production balanced gains.

Israeli Prime Minister Benjamin Netanyahu said on Sunday that Israel could act against Iran itself, not just its allies in the Middle East, after border incidents in Syria brought the Middle East foes closer to direct confrontation.

According to a weekly report from General Electrics Baker Hughes unit - the U.S. oil rig count, an indicator of future production, rose by seven to 798, its highest since April 2015.

Technical outlook

Crude Oil 4hr chart has formed "Broadening Right Angled Ascending” pattern. The last few sessions seems strongly bullish in trend after retesting a long-term support level at $58.50(3774) as the prices have already broken out the channel’s support line itself. The market is expected to continue in the same trend to retest the previous support which is now resistance at $63(4064), testing all the way through $62.50-63(4032-4064) levels in the upcoming weeks. Once the market reaches the resistance then it might have a chance to retest the same and turn bearish. Alternatively, if the market breaks above the resistance, then it might continue in bullish momentum.


Research Report call:

Technical Chart:
Zinc 2/19/2018 9:54:00 AM

Technical outlook

Zinc hourly chart has formed "Rising channel” pattern. The last session ended up in bearish after breaking out the channel’s support slope line. The market is expected to continue in bearish momentum, once the same breaks below the support at 229.50. The downside rally could test all the way through 228-227 levels in the upcoming weeks. Alternatively, if the support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 231-232 levels. Resistance holds at 232.


Research Report call:

Sell Zinc below at 230.50 target 229-228 Stop loss at 231.50
Technical Chart:
Silver 2/19/2018 9:49:00 AM

Technical outlook

Silver daily chart has formed “Falling wedge” pattern. The last few sessions ended up consolidated after breaking out the channel’s resistance slope line itself. The market is expected to continue in bullish momentum after retesting the support level at 38500. The upside rally could test all the way through 39000-39500 levels in the upcoming sessions. Alternatively, if market breaks below the support level then it might continue in bearish momentum. The downside rally could test 38300-38000 levels. Resistance holds at 39500.


Research Report call:

Technical Chart:
Nickel 2/19/2018 9:44:00 AM

Technical outlook

Nickel daily chart has formed "Broadening top” pattern. The last session seems consolidated after retesting the channel’s resistance slope line but bearish in trend. The market is expected to continue in bearish momentum once the same breaks below the key support level at 880. The downside rally could test all the way through 860-840 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level at 915 then buyers might take control over the same. The upside rally could test 920-930 levels.


Research Report call:

Nickel Sell on rise 892-890 Target 885-880 Stop loss at 897
Technical Chart:
Natural Gas 2/19/2018 9:42:00 AM

Technical outlook

Natural gas daily chart has formed "Broadening bottom” pattern. The last few sessions indicates bearish momentum but a little consolidated. The market is expected to continue on the bearish trend, once the same breaks below the support level at 162. The downside rally could test all the way through 155-150 levels in upcoming sessions. Alternatively, if the support holds strong then it might retest the same and turn bullish. The upside rally could test 170-175 levels. Resistance holds at 175.


Research Report call:

Technical Chart:
Lead 2/19/2018 9:40:00 AM

Technical outlook

Lead hourly chart has formed "Rising channel” pattern. The last session ended up in bearish near the channel’s support slope line. The market is expected to retest the support level at 167.50 and turn bullish once again. The upside rally could test all the way through 169-170 levels in the upcoming weeks. Alternatively, if the market breaks below the support level, then it might turn bearish once again. The downside rally could test 166-165 levels. Resistance holds at 170.


Research Report call:

Technical Chart:
Copper 2/19/2018 9:38:00 AM

Technical outlook

Copper daily chart has formed "Megaphone chart” pattern. The last few sessions been strongly bullish in trend as the prices have already broken out the channel’s resistance slope line itself. The market is expected to continue in bullish momentum, testing all the way through 465-470 levels in the upcoming sessions. Alternatively, if the market breaks below the previous resistance which is now support at 458, then it might turn bearish. Key resistance holds at 470.


Research Report call:

Technical Chart:
Aluminium 2/19/2018 9:34:00 AM

Technical outlook

Aluminium 4hr chart has formed "Descending broadening Wedge” pattern. The last few sessions been strongly 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 the resistance level at 142. The upside rally could test all the way through 143-144.50 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 141-140 levels. Support holds at 140.


Research Report call:

Aluminium Sell below 141.70 Target 140.75-139 Stop loss at 142.40
Technical Chart:
Crude Oil 2/19/2018 9:21:00 AM

Crude oil prices edged higher brushing aside data revealing the number of US oil rigs rose for the fourth straight week.

According to data from energy services firm Baker Hughes - the number of oil rigs operating in the US jumped by seven to 798, the highest level since April 2, 2015.

That boosted investor worries that rising US oil output would balance major oil producers’ efforts – as part of the production-cut agreement – to rid the market of excess oil stockpiles.

The rise in US oil rigs comes just two days after data showed US producers continued to rise output.

The Energy Information Agency disclosed its weekly supply totals report showing U.S. crude output hit a record 10.27 million barrels per day.

Technical outlook

Crude Oil hourly chart has formed "Ascending triangle” pattern. The last session seems strongly bullish in trend as the prices have broken out the channel’s resistance line. The market is expected to continue in the same trend, testing all the way through $63-64(4060-4124) levels in the upcoming weeks. Alternatively, if the market breaks below the previous resistance which is now support level at $61.50(3963), then it might turn bearish once again. Resistance holds at $64(4124).


Research Report call:

Crude oil Buy On dips around 4000-3995 Target 4033-4075 Stop loss at 3980
Technical Chart:
Gold 2/19/2018 9:14:00 AM

Gold prices edged lower on Friday, pulling away from three-and-a-half week highs as the release of strong U.S. housing sector data moved the greenback broadly higher.

The dollar rebounded after data showed that U.S. homebuilding increased to more than a one-year high in January and that building permits soared to their highest level since 2007.

The greenback came under broad selling pressure earlier amid fresh concerns over the U.S. deficit, which is projected to climb near $1 trillion in 2019 following the announcement of infrastructure spending and large corporate tax cuts.

The U.S. Commerce Department reported on Wednesday that consumer prices rose more than expected in January by 0.5%, sending U.S. bond yields higher.

The dollar had primarily strengthened after Data on Thursday revealed that the U.S. producer price index rose in line with expectations by 0.4% last month.

Technical outlook

Gold 4hr chart has formed "Descending channel” pattern. The last session seems consolidated and have retested a key support level at $1347(30700) as the prices have already broken out the pattern itself. The market is expected to continue in bullish momentum. The upside rally could test $1358-1364(30975-31125) levels in upcoming sessions. Alternatively, if the market breaks below the support then it might turn bearish once again. Major Resistance holds at $1364(31125).


Research Report call:

Technical Chart:
Zinc 2/16/2018 9:56:00 AM

Technical outlook

Zinc daily chart has formed "Rectangle chart” pattern. The last few sessions seems strongly bullish in trend and has ended up near the channel’s resistance level at 230. The market is expected to continue in bullish term once the same breaks above the resistance level. The upside rally could test all the way through 232-235 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Support holds at 226.


Research Report call:

Technical Chart:
Silver 2/16/2018 9:53:00 AM

Technical outlook

Silver daily chart has formed "Broadening top” pattern. The last few sessions been bullish in trend as the prices have broken out a resistance slope trend line inside the channel. The market is expected to continue on the bullish trend, testing all the way through 39000-39500 and furthermore levels in the upcoming weeks. Alternatively, if the market breaks below the key support level at 38100 then it might turn bearish as a correction. Resistance holds at 39500.


Research Report call:

Silver Buy 38525-38625 target 38800 -39200 Stop loss at 38200
Technical Chart:
Nickel 2/16/2018 9:48:00 AM

Technical outlook

Nickel 4hr chart has formed "Broadening top” pattern. The last session seems consolidated 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 level at 890. The downside rally could test all the way through 880-870 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level at 915 then buyers might take control over the same. The upside rally could test 920-930 levels.


Research Report call:

Technical Chart:
Natural Gas 2/16/2018 9:45:00 AM

Technical outlook

Natural gas daily chart has formed "Broadening bottom” pattern. The last few sessions indicates bearish momentum. The market is expected to continue on the bearish trend, once the same breaks below the support level at 162. The downside rally could test all the way through 155-160 levels in upcoming sessions. Alternatively, if the support holds strong then it might retest the same and turn bullish. The upside rally could test 170-175 levels. Resistance holds at 175.


Research Report call:

Technical Chart:
Lead 2/16/2018 9:41:00 AM

Technical outlook

Lead hourly chart has formed "Rising channel” pattern. The last session been bullish trend but little consolidated inside the channel. The market is expected to retest the support level at 167 and turn bullish once again. The upside rally could test all the way through 168.50-169.50 levels in the upcoming weeks. Alternatively, if the market breaks below the support level, then it might turn bearish once again. The downside rally could test 166-165 levels. Resistance holds at 169.50.


Research Report call:

Lead Buy 167.40-167 Target 169-171 Stop loss at 166
Technical Chart:
Copper 2/16/2018 9:36:00 AM

Technical outlook

Copper 4hr chart has formed "Rising channel” pattern. The last session seems consolidated inside the channel but ended up in bullish trend. The market is expected to continue in the same trend, testing all the way through 462-465 levels in the upcoming weeks. Alternatively, if the market breaks below the support level at 455, then it might turn bearish once again. The downside rally could test 453-450 levels. Resistance holds at 465.


Research Report call:

Copper Buy 458-457 target 462-465 Stop loss at 456
Technical Chart:
Aluminium 2/16/2018 9:33:00 AM

Technical outlook

Aluminium 4hr chart has formed "Falling channel” pattern. The last session seems bearish in trend as the prices have broken out the channel’s resistance slope line and ended up retesting the same. The market is expected to continue in the bullish trend, testing all the way through 139-140 levels in the upcoming weeks. Alternatively, if the market breaks below the previous resistance which is now support level at 137, then it might turn bearish once again. The downside rally could test 136.50-136 levels. Resistance holds at 140.


Research Report call:

Technical Chart:
Crude Oil 2/16/2018 9:10:00 AM

WTI crude oil prices edged lower as traders continued to accept encouraging comments from Saudi Arabia while expectations for a further build in product inventories weighed on sentiment.

Oil prices upturned some of their gains from Wednesday’s session as traders continued to accept recent data showing US oil producers continued to ramp up production while refinery activity continued to fall, which could add to domestic supply totals in the weeks to come.

The Energy Information Administration said Wednesday that U.S. refinery utilization dropped to 89.8% last week. Subdued refinery comes as U.S. crude output hit a record 10.27 million barrels per day, which keeps the US on track to meet the EIA’s recent estimate for domestic production to top 11 million barrels per day by year-end.

The Baker Hughes Rig count is due to be released later on today.

Technical outlook

Crude Oil 4hr chart has formed "Descending broadening wedge” pattern. The last session seems strongly bullish in trend as the prices have broken out the channel’s resistance slope line and retested the same. The market is expected to continue in the bullish trend, testing all the way through $63-64(4023-4086) levels in the upcoming weeks. Alternatively, if the market breaks below the previous resistance which is now support level at $60(3831), then it might turn bearish once again. Resistance holds at $64(4086).


Research Report call:

Crude oil buy above 3925-3920 target 3965-4020 Stop loss at 3890
Technical Chart:
Gold 2/16/2018 9:07:00 AM

Gold prices traded flat on Thursday as traders pondered over recent data indicating to growing inflationary demands which could strengthen the Federal Reserve’s case for a faster pace of monetary policy tightening.

Gold prices struggled to capitalise on dollar weakness as traders grew wary of adding to recent bullish bets on the yellow metal after upbeat wholesale inflation reaffirmed the narrative of improving US inflation.

The Labor Department said Thursday its producer price index for final demand increased 0.4% last month after slipping 0.1% in December. In the 12 months through January, the PPI rose 2.2%.

Technical outlook

Gold daily chart has formed "Falling wedge” pattern. The last session seems strongly bullish in trend as the prices have already broken out the channel’s resistance slope line itself. As per the technical aspects of the pattern, a long-term bullish momentum is indicated in the upcoming session as the 50-day moving average crossovers the 100-day moving average in the technical chart. Once the market breaks above a key resistance level at $1360(30650), buy signal will be confirmed. The upside rally could test $1370-1380(30900-31150) levels in upcoming weeks. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. Major Resistance holds at $1380(31150) and support at $1330(29900).


Research Report call:

Gold Buy above 30650-30600 target 30750-30800 Stop loss at 30575
Technical Chart:
Gold 2/15/2018 9:31:00 AM

Gold prices moved lower on Wednesday, as the release of sturdy U.S. inflation data sent the greenback largely higher.

The U.S. Commerce Department said consumer prices rose more than expected in January by 0.5%. Year-over-year, consumer prices increased 2.1% last month a year earlier, beating expectations for a gain of 1.9%.

Rising inflation would be a channel to push the Federal Reserve toward raising interest rates at a faster pace than currently expected.

Technical outlook

Gold daily chart has formed "Descending channel” pattern. The last session seems strongly bullish in trend as the prices seems to have already broken out the channel’s resistance slope line itself. As per the technical aspects of the pattern, a long-term bullish momentum is indicated in the upcoming session as the 50-day moving average crossovers the 100-day moving average in the technical chart. Once the market breaks above a key resistance level at $1360(30750), buy signal will be confirmed. The upside rally could test $1365-1370(30875-31000) levels in upcoming weeks. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. Major Resistance holds at $1370(31000) and support at $1330(30000).


Research Report call:

Technical Chart:
Gold 2/14/2018 9:06:00 AM

Gold prices drifted above breakeven aided by ongoing dollar weakness ahead of an inflation report which could strengthen the Federal Reserve’s case for more aggressive monetary policy tightening.

The dollar dropped for a second straight day in row pressured by large gains in both the euro and yen, helping gold prices remain steady a day ahead of an inflation report which could tender markets with new path.

Technical outlook

Gold daily chart has formed "Descending channel” pattern. The last few sessions seems bullish in trend as the prices seems to have already broken out the channel’s resistance slope line itself. As per the technical aspects of the pattern, a long-term bullish momentum is indicated in the upcoming session as the 50-day moving average crossovers the 100-day moving average in the technical chart. The upside rally could test $1340-1350(30380-30630) levels in upcoming weeks. Alternatively, if the market breaks below the key support level at $1325(30005), then sellers might take control over the same. Resistance holds at $1350(30630) and long-term support at $1310(29630).


Research Report call:

Gold Buy between 30300-30275 Target 30450-30650 Stop loss at 30200
Technical Chart:
Gold 2/12/2018 9:20:00 AM

Gold prices edged lower on Friday as the dollar moved for its largest weekly gain in more than a year but losses in the precious metal were restricted as yields withdrew from four-year highs.

The Bank of England resisted change on interest rates Thursday but indicated that rate hikes could be needed earlier than expected as the rapid pace of inflation continued.

Offsetting the prospect of tighter monetary policy, however, was the ongoing rout in global stock markets, triggering safe-haven demand, as more than $6 trillion in stock market capitalization was lost so far, this week.

Technical outlook

Gold 4hr chart has formed "Head & Shoulders” pattern. The last few sessions seems bullish in trend as the prices have retested a support level at $1310(29840). As per the technical aspects of the pattern, the market is expected to continue to retest the pattern’s neckline resistance near $1330(30340) and then turn bearish. The downside rally could test all the way through $1325-1315(30215-29965) levels in the upcoming sessions. Once the market reaches the neckline resistance level then we can expect a trend reversal. Alternatively, if the market breaks above the resistance level then buyers might take control over the market. The upside rally could test $1335-1340(30465-30590) levels.


Research Report call:

Technical Chart:
Lead 2/12/2018 9:17:00 AM

Technical outlook

Lead daily chart continues in “Cup and handle” pattern. The last few sessions seems consolidated near the handle’s resistance slope line but overall bearish in trend. As per the technical aspects of the pattern, the market is expected to continue in bearish momentum, testing all the way through 160-158 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level at 164 then it might turn to bullish momentum. The upside rally could test 166-168 levels. Support holds at 158.


Research Report call:

Lead Buy above 164 Target 165-166 Stop loss at 163
Technical Chart:
Copper 2/12/2018 9:13:00 AM

Technical outlook

Copper daily chart has formed “Ascending channel” pattern. The last session ended up bearish near the channel’s support slope line. As per the technical aspects of the pattern, the market is expected to retest the support level at 430 and turn bullish once again. The upside rally could test all the way through 435-440 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 425-420 levels. Key Resistance holds at 440.


Research Report call:

Technical Chart:
Crude Oil 2/9/2018 9:46:00 AM

 Oil prices dropped for a sixth day on Friday after Iran announced plans to increase production and U.S. crude output hit record highs, adding to worries about a rise in global supplies.

The falls come amid a crush in global share markets as inflation worries grip investors. Both contracts have fallen more than 9 percent from this years high point in late January.

"Bets on further rising oil and metals prices, for example by hedge funds, have climbed to excessively bullish levels," said Carsten Menke, commodities research analyst at Swiss Bank Julius Baer. He said "We see oil prices dropping towards and below $60 per barrel."

OPEC member Iran on Thursday announced plans to increase production within the next four years by at least 700,000 barrels a day.

The U.S. Energy Information Administration (EIA) this week said crude production last week rose to a record high of 10.25 million barrels per day (bpd)

The Baker Huges Rig count is due to be released later on today.

Technical outlook

Crude Oil daily chart has formed "Rising wedge” pattern. The last session seems strongly bearish in trend as the prices have broken out the channel’s support slope line. The market is expected to continue in the same trend, testing all the way through $60-58(3866-3738) levels in the upcoming weeks. Alternatively, if the market breaks above the previous support which is now resistance level, then it might turn bullish once again. The upside rally could test $63-64(4060-4124) levels. Previous support become resistance at $62(3995) and additional support at $58(3738).


Research Report call:

Crude oil Sell below 3890-3900 Target 3870-3860 Stop loss at 3915
Technical Chart:
Gold 2/9/2018 9:44:00 AM

 Gold prices traded higher after the dollar dropped from session highs as traders awaited an approval of a budget deal Thursday to prevent a government shutdown.

Senator Rand Paul was holding up the Senates vote on a massive budget deal, CNBC reported Thursday.

The vote comes amid conflict from both sides of the political isle amid worries that the budget deal does nothing for young immigrants. The budget deal would have to be passed before midnight to avoid a government shutdown.

Further pressuring gold were comments by San Francisco Fed President John Williams, who said the central bank would adopt "steady, gradual" approach to rate increases.

Technical outlook

Gold 4hr chart has formed "Head & Shoulders” pattern. The last session seems to have successfully retested a major support level at $1310(29825) and turned bullish. As per the technical aspects of the pattern, the market is expected to continue on bullish momentum to retest the pattern’s neckline resistance near $1330(30325), testing all the way through $1325-1330(30200-30325) levels in the upcoming sessions. Once the market reaches the neckline resistance level then we can expect a trend reversal in upcoming week. Alternatively, if the market breaks below the support then sellers might take control over the market.


Research Report call:

Technical Chart:
Zinc 2/9/2018 9:40:00 AM

 Technical outlook

Zinc 4hr chart has formed “Falling wedge” pattern. The last session ended up bullish near the channel’s resistance slope line. The market is expected to continue in bullish momentum once the same breaks above the resistance level at 222. The upside rally could test all the way through 223-225 levels in the upcoming sessions. Alternatively, if the resistance holds strong then it might retest the same and turn bearish. The downside rally could test 220-218 levels. Support holds at 218.


Research Report call:

Technical Chart:
Silver 2/9/2018 9:38:00 AM

 Technical outlook

Silver 4hr chart has formed “Falling wedge” pattern. The last session ended up bullish near the channel’s resistance slope line. The market is expected to continue in bullish momentum once the same breaks above the resistance level at 38150. The upside rally could test all the way through 38400-38600 levels in the upcoming sessions. Alternatively, if the resistance holds strong then it might retest the same and turn bearish. The downside rally could test 37800-37600 levels. Support holds at 37600.


Research Report call:

Technical Chart:
Nickel 2/9/2018 9:33:00 AM

 Technical outlook

Nickel daily chart has formed "Broadening top” pattern. The last few sessions been bullish in trend as the prices have retested the channel’s support slope line. The market is expected to continue on the bullish trend. Once the same breaks above a resistance trend slope line near 855. The upside rally could test all the way through 870-880-900 levels in the upcoming sessions. Alternatively, market also might have a chance giving a small correction on negative momentum. Key Resistance holds at 855 and Key support at 830.


Research Report call:

Technical Chart:
Zinc 2/8/2018 10:04:00 AM

 Technical outlook

Zinc daily chart has formed "Ascending broadening wedge” pattern. The last few sessions seems strongly bearish in trend as the prices have broken the pattern’s support slope line itself. The market is expected to continue on the same trend with a small correction over positive momentum, testing all the way through 219-217 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance level at 223 then it might turn bullish. Support holds at 217.


Research Report call:

Zinc Sell on rise 221 Target 219-217 Stop loss at 221.90
Technical Chart:
Silver 2/8/2018 10:02:00 AM

 Technical outlook

Silver daily chart has formed "Broadening top” pattern. The last few sessions seems strongly bearish in trend as the prices have broken the pattern’s support slope line itself. The market is expected to continue on the same trend with a small correction over positive momentum, testing all the way through 37500-37000 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance level at 38600 then it might turn bullish. Support holds at 37000.


Research Report call:

Silver Sell on rise 37800 Target 37500-37300 Stop loss at 38000
Technical Chart:
Nickel 2/8/2018 9:58:00 AM

 Technical outlook

Nickel 4hr chart has formed "Broadening top” pattern. The last session ended up consolidated but bearish in trend. The market is expected to continue on the same trend with a small correction over positive momentum, testing all the way through 840-830 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance level at 860 then it might turn bullish. The upside rally could test 870-885 levels. Major Resistance holds at 885 and Key support at 830.


Research Report call:

Nickel Sell on rise 850-847 Target 835-825 Stop loss at 856
Technical Chart:
Lead 2/8/2018 9:51:00 AM

 Technical outlook

Lead daily chart has formed “Cup and handle” pattern. The last few sessions been successfully bearish in trend, rallying with the pattern itself. As per the technical aspects of the pattern, the market is expected to continue in bearish momentum, testing all the way through 160-158 levels in the upcoming sessions. Alternatively, the market might also give a correction over positive momentum. Resistance holds at 167 and Support holds at 158.


Research Report call:

Technical Chart:
Copper 2/8/2018 9:48:00 AM

 Technical outlook

Copper daily chart has formed “Descending broadening wedge” pattern. The last session been successfully bearish in trend after retesting the channel’s resistance slope line. The market is expected to continue in bearish momentum, testing all the way through 435-430 levels in the upcoming sessions. Alternatively, the market might have a chance to give correction over positive momentum. Resistance holds at 450 and Support at 430.


Research Report call:

Technical Chart:
Aluminium 2/8/2018 9:45:00 AM

Technical outlook

Aluminium 4hr chart has formed “Descending channel” pattern. The last few sessions been successfully bearish in trend and has ended up near the channel’s support slope line. The market is expected to retest the level and turn bullish, testing all the way through 140-141.50 levels in the upcoming sessions. Alternatively, if the market breaks below the support level at 138 then sellers might take control over the same. The downside rally could test 137-136.50 levels. Resistance holds at 141.50 and additional Support at 136.50.


Research Report call:

Aluminium Sell below 138.80 Target 137-135 Stop loss at 139.50
Technical Chart:
Zinc 2/7/2018 10:21:00 AM

 Technical outlook

Zinc daily chart has formed "Rising wedge” pattern. The last session been bearish in trend and has ended up near the channel’s support slope line. The market is expected to retest the level and bullish once again. The upside rally could test all the way through 227-229 levels in the upcoming sessions. Alternatively, if the market breaks below the support level at 223 then sellers might take control over the market. The downside rally could test 222-220 levels. Resistance holds at 229.


Research Report call:

Technical Chart:
Silver 2/7/2018 10:17:00 AM

 Technical outlook

Silver 4hr chart has formed "Broadening top” pattern. The last session been bearish in trend and has ended near the channel’s support line. The market is expected to retest the level and turn bullish, testing all the way through 38500-39000 levels in the upcoming sessions. Alternatively, if the market breaks below the support level at 38100 then sellers might take control over the market. The downside rally could test 37800-37400 levels. Key Resistance holds at 39000.


Research Report call:

Silver Buy On dips around 38100-37950 Target 39000-40000 Stop loss at 37875 ( Avg Bought Prices at 38023)
Technical Chart:
Nickel 2/7/2018 10:15:00 AM

 Technical outlook

Nickel 4hr chart has formed "Right angled broadening ascending” pattern. The last session ended up consolidated but bearish in trend near the channel’s support line. The market is expected to retest the level and turn bullish, testing all the way through 875-885 levels in the upcoming sessions. Alternatively, if the market breaks below the support level at 848 then sellers might take control over the market. The downside rally could test 840-835 levels. Key Resistance holds at 885.


Research Report call:

Nickel Sell on rise 876 (Avg Sell 884) Target 870-865 Stop loss at 887(Avg Sell prices at 881)
Technical Chart:
Natural Gas 2/7/2018 10:11:00 AM

 Technical outlook

Natural gas 4hr chart has formed “Falling wedge” pattern. The last session ended up consolidated but near the channel’s resistance slope line. The market is expected to continue in bullish momentum once the same breaks above the resistance level at 180. The upside rally could test all the way through 182-185 levels in the upcoming sessions. Alternatively, if the resistance holds strong then it might retest the same and turn bearish. The downside rally could test 175-172 levels. Support holds at 172.


Research Report call:

Technical Chart:
Lead 2/7/2018 10:04:00 AM

 Technical outlook

Lead hourly chart has formed “Rising channel” pattern. The last session seems consolidated as the prices have retested the channel’s support slope line. The market is expected to continue in bullish momentum, testing all the way through 169-172 levels in the upcoming sessions. Alternatively, if the market breaks below the support level at 167 then sellers might take control over the same. The downside rally could test 166-165 levels. Resistance holds at 172.


Research Report call:

Technical Chart:
Copper 2/7/2018 10:00:00 AM

 Technical outlook

Copper hourly chart has formed “Rising wedge” pattern along with a “Descending broadening wedge” pattern. The last session seems consolidated but bearish in trend and has ended up near the rising channel’s support slope line. The market is expected to retest the same and turn bullish, testing all the way through 455-460 levels in the upcoming sessions. Alternatively, if the market breaks below the support level at 452 then sellers might take control over the same. The downside rally could test 450-445 levels. Resistance holds at 460.


Research Report call:

Copper Buy above 451.50 Target 452.50-453.50 Stop loss at 450 If break below copper Sell at 449 Target 446-444 Stop loss at 451
Technical Chart:
Silver 2/6/2018 10:32:00 AM

 Technical outlook

Silver daily chart has formed "Broadening top” pattern. The last session has formed an “inverse hammer” candlestick pattern inside the channel which could be read as trend reversal one. The market is expected to continue on the bullish trend, testing all the way through 39000-39500 levels in the upcoming sessions. Alternatively, market also might have a chance giving a small correction on negative momentum. Key Resistance holds at 39500 and Key support at 38300.


Research Report call:

Silver Sell below 39000( Avg Sell 39050) Target 38850-38650 Stop loss at 39150
Technical Chart:
Nickel 2/6/2018 10:29:00 AM

 Technical outlook

NIckel daily chart has formed "Broadening top” pattern. The last session ended up retesting the key resistance level inside the channel at 885 and indicates bearish momentum. The market is expected to continue on the same trend, testing all the way through 860-850 levels in the upcoming sessions. Alternatively, market also might have a chance giving a small correction on positive momentum. Key Resistance holds at 885 and Key support at 850.


Research Report call:

Technical Chart:
Natural Gas 2/6/2018 10:26:00 AM

 Technical outlook

Natural gas 4hr chart has formed “Falling wedge” pattern. The last session ended up bearish near the channel’s support slope line. The market is expected to retest the support level and turn bullish, testing all the way through 180-185 levels in the upcoming sessions. Alternatively, if the market breaks below the support level at 175 then it might continue in bearish momentum. Resistance holds at 185.


Research Report call:

Technical Chart:
Copper 2/6/2018 10:17:00 AM

 Technical outlook

Copper daily chart has formed "Descending broadening wedge” pattern. The last session market seems consolidated near the channel’s resistance slope line. The market is expected to retest the level and turn bearish. The upside rally could test all the way through 450-448 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance then it might turn bullish once again. Resistance holds at 457 and support at 448.


Research Report call:

Copper Buy above 452.50-452.75 Target 453.50-455 Stop loss at 451
Technical Chart:
Nickel 2/5/2018 10:22:00 AM

 Technical outlook

Nickel daily chart has formed “Rising channel” pattern. The last session been bearish in trend as the prices have already retested the channel’s resistance slope line. The market is expected to continue in the same trend, testing all the way through 860-850-840 levels in the upcoming sessions. Once the market reaches the support at 840 then it might retest the same and bullish once again. Alternatively, the market also indicates a small correction over positive momentum. Resistance holds at 890.


Research Report call:

Technical Chart:
Natural Gas 2/5/2018 10:20:00 AM

 Technical outlook

Natural gas daily chart has formed “Right angled Ascending broadening” chart pattern. The last few sessions been bearish in trend and has ended up near the channel’s support slope line. The market is expected to retest the level and bullish, testing all the way through 190-195 levels in the upcoming sessions. Alternatively, if the market breaks below the support at 182 then it might continue in bearish. Key Resistance holds at 195.


Research Report call:

Technical Chart:
Lead 2/5/2018 10:16:00 AM

 Technical outlook

Lead daily chart has formed “Rounding bottom” pattern along with an “Ascending broadening channel”. The last session ended up bullish in trend near the channel’s Neckline resistance level at 172. The market is expected to continue in bullish momentum once the same breaks above the resistance level, testing all the way through 175-180 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Support holds at 168.


Research Report call:

Technical Chart:
Copper 2/5/2018 10:13:00 AM

 Technical outlook

Copper daily chart has formed "Descending broadening wedge” pattern. The last session market seems consolidated as the prices have broken out the pattern’s resistance slope line itself. The market is expected to continue in the bullish trend. The upside rally could test all the way through 460-463 levels in the upcoming sessions. Alternatively, if the market breaks below the support then it might turn bearish once again. Resistance holds at 463 and Previous resistance become support at 452.


Research Report call:

Copper Sell below 453 Target 452-451 Stop loss at 453.60
Technical Chart:
Aluminium 2/5/2018 10:08:00 AM

 Technical outlook

Aluminium daily chart has formed "Symmetrical triangle” pattern. The last few sessions seems consolidated near the channel’s tip end. As per the technical aspects of the pattern, the market indicates bearish momentum. The same is expected to retest the support level at 140.50 and then turn bullish once again. The upside rally could test all the way through 142-143.50 levels in the upcoming sessions. Alternatively, if the market breaks below the support level then it might continue in bearish. Resistance holds at 143.50.


Research Report call:

Aluminium Sell below 141-140.90 Target 140.30-139.80 Stop loss at 141.50
Technical Chart:
Lead 2/2/2018 9:55:00 AM

 Technical outlook

Lead daily chart has formed “Rounding bottom” pattern. The last session ended up bullish in trend near the channel’s Neckline resistance level at 171.50. The market is expected to continue in bullish momentum once the same breaks above the resistance level, testing all the way through 175-180 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Support holds at 168.


Research Report call:

Technical Chart:
Copper 2/2/2018 9:52:00 AM

 Technical outlook

Copper 4hr chart has formed “Descending broadening wedge” pattern. The last session ended up 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 resistance level at 455.50, testing all the way through 457-460 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 450-445. Additional Resistance holds at 460 and Support at 445.


Research Report call:

Copper Buy above 456 target 457.60-462 Stop loss at 454.40(avg buy 455)
Technical Chart:
Aluminium 2/2/2018 9:49:00 AM

 Technical outlook

Aluminium 4hr chart has formed “Descending channel” pattern. The last session ended up bullish in trend after retesting the channel’s support slope line. The market is expected to continue in bullish momentum, testing all the way through 143-143.50 levels in the upcoming sessions. Alternatively, the market also indicates a small correction over negative momentum. Resistance holds at 143.50 and Support at 140.50. Additional resistance holds near 144.


Research Report call:

Aluminium buy above 142.40 target 143.50 -144.50 stop loss 140.40 Avg buy again around 141.75
Technical Chart:
Crude Oil 2/2/2018 9:23:00 AM

 Crude prices marked higher on Thursday, taking support from a report showing a sizable decline in U.S. stocks of gasoline and distillate supplies.

Oil prices ended higher on Wednesday, as data from the Energy Information Administration showed strong U.S. demand for gasoline and distillates along with weekly declines in domestic supplies of the petroleum products.

The EIA, however, also reported that U.S. crude supplies rose 6.8 million barrels last week, which marked the first increase in 11 weeks.

The report also revealed that U.S. crude oil production edged up by 41,000 barrels per day (bpd) to 9.919 million bpd, the highest level since the early 1970s and close to the output of top producers Russia and Saudi Arabia.

Technical outlook

Crude Oil daily chart has formed "Ascending triangle” pattern. The last few sessions been bullish in trend and has ended up near the channel’s resistance level. As per the technical aspects of the pattern, the market is expected retest the same and turn bearish once again. The downside rally could test all the way through $65.50-65(4200-4167) levels in the upcoming sessions. Once the market reaches the support level at $65(4167), then it might retest the same and bullish once again. Alternatively, if the market breaks above the resistance level then it might continue in bullish. Resistance holds at $66.50(4264).


Research Report call:

crude oil sell below 4220 target 4200-4190 stop loss st 4236
Technical Chart:
Natural Gas 2/1/2018 10:40:00 AM

 Technical outlook

Natural gas daily chart has formed "Ascending broadening wedge” pattern. The last few sessions ended up strongly bearish in trend breaking out the channel’s support slope line. The market is expected continue in bearish momentum, testing all the way through 185-180 levels in the upcoming sessions. Alternatively, the market also indicates a chance of bearish momentum as a correction. Resistance holds near 195 and support holds at 180.


Research Report call:

Technical Chart:
Lead 2/1/2018 10:37:00 AM

 Technical outlook

Lead 4hr chart continues in “Rising channel” pattern. The last session consolidated but bullish in trend as the prices have already retested an interim support line inside the channel near 165. The market is expected to continue in bullish momentum, testing all the way through 168-169 levels in upcoming sessions. Alternatively, if the market breaks below the interim support level at 166 then it might continue in bearish momentum. the downside rally could test 165-164 levels. Major resistance holds at 169 and additional support at 163.50.


Research Report call:

Technical Chart:
Copper 2/1/2018 10:27:00 AM

 Technical outlook

Copper daily chart continues in "Descending broadening wedge” pattern. The last few sessions consolidated near the channel’s resistance slope line. The market indicates bullish momentum as a correction to retest the resistance level once again. Once the market reaches the resistance level at 454 then it might retest the same and turn bearish. The downside rally could test 451-448-445 levels in upcoming sessions. Alternatively, if the market breaks above the resistance level then it might continue in bullish term. The upside rally could test 458-462 levels. Support holds at 445.


Research Report call:

Technical Chart:
Aluminium 2/1/2018 10:21:00 AM

Technical outlook

Aluminium 4hr chart has formed "Ascending broadening wedge” pattern. The last few sessions ended up consolidated after breaking out the channel’s support slope line in bearish momentum. The market is expected continue in bullish momentum, testing all the way through 142-143 levels in the upcoming sessions. Alternatively, the market also indicates a chance of bearish momentum as a correction. Previous support become Resistance near 143 and support holds at 139.


Research Report call:

Technical Chart: