MENU

Published on 19/08/2019 11:24:54 AM | Source: Enrich Commodities India Pvt Ltd

Aluminium, Copper, Lead, Natural Gas, Nickel, Silver, Zinc Commodity Report Of 19/08/2019 By Enrich Commodities

Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More

Aluminium

Technical Outlook

Aluminium Aug daily chart has formed "Falling wedge" pattern. The last few sessions ended up in sideways trend along with some corrections inside the channel. The market is expected to continue on the bullish momentum based on the current price action, once the same breaks above a key resistance holding at 142. The upside rally could be testing all the way through 144-146 level in the upcoming sessions. Alternatively, if key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 138 level. Key support holds at 138.

Technical Chart

 

To Read Complete Report & Disclaimer Click Here

 

Copper

Technical Outlook

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in bearish 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 a key support holding at 444. The downside rally could be testing all the way through 440-432 level 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 453 level. Key resistance holds at 453.

Technical Chart

 

To Read Complete Report & Disclaimer Click Here

 

Lead

Technical Outlook

Lead Aug Daily chart has formed “Rectangle chart” pattern. The last few sessions ended up in sideways 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 a key support holding at 152.50. The downside rally could be testing all the way up to 151-150 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 155-157 levels. Key resistance holds at 157.

Technical Chart

 

To Read Complete Report & Disclaimer Click Here

 

Natural Gas

Technical Outlook

Natural gas daily chart has formed “Falling wedge” pattern. The last few sessions ended up in sideways trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the price action, once the same breaks above a key resistance holding at 159. The upside rally could be testing all the way through 165-170 level 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 up to 145 level. Key support holds at 145.

Technical Chart

 

To Read Complete Report & Disclaimer Click Here

 

Nickel

Technical Outlook

Nickel Aug daily Chart has formed "Rising channel" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on the bullish term based on the current price action, once the same breaks above a key resistance holding at 1144. The upside rally could be testing all the way through 1160 level 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 1108 level. Key support holds at 1108.

Technical Chart

 

To Read Complete Report & Disclaimer Click Here

 

Silver

Technical Outlook

MCX Silver Sept futures technical chart has taken the formation of "Ascending broadening channel" pattern in daily time frame. Last few sessions ended up in sideways 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 price breaks below a key support holding at 43700. The negative rally could be extending all the way up to 43500-43300 level in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 44300 level. Key resistance holds at 44300.

Technical Chart

 

To Read Complete Report & Disclaimer Click Here

 

Zinc

Technical Outlook

Zinc Aug daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up sideways 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 a key support holding at 182.50. The downside rally could be testing all the way through 181-179 level 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 187 level. Key resistance holds at 187.

Technical Chart

 

To Read Complete Report & Disclaimer Click Here

 

Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer