Enrich Commodities India Pvt.Ltd
Published on 17/11/2017 12:04:17 PM

ZINC

Technical view: 

Zinc is in short term bears phase. The daily Technical chart of zinc displays an ascending triangle which is generally considered to be a continuation pattern. Strong support holds at 206.40. If it breaks and closes an hourly candle, a fall in the support price is likely towards 204.50-200. Resistance holds at 209. Sell on rise would be a better trading strategy in this current market scenario.

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Enrich Commodities India Pvt.Ltd
Published on 17/11/2017 12:03:51 PM

SILVER

Technical View 

Silver 4H chart Sideways market has formed “Rectangle chart pattern”. The previous session seems consolidated inside the pattern and thus confirms the chance in acquisition of both positive and negative momentum in the upcoming market sessions. The market also indicates selling pressure on analyzing the historical level. Resistance holds at 39920 and Support holds at 39520.

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Enrich Commodities India Pvt.Ltd
Published on 17/11/2017 12:03:19 PM

NICKEL

Technical view: 

Nickel is in short-term downtrend market. The weekly chart has formed strong bearish candle where the next support 732 -740. Key resistance holds at 748-765. Nickel prices are expected to consolidate between support and resistance in the next few trading sessions.

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Enrich Commodities India Pvt.Ltd
Published on 17/11/2017 12:02:51 PM

NATURAL GAS

Technical View 

Natural Gas daily chart has formed “Ascending broadening wedge” pattern. The previous session was bearish but has closed above a short term strong support level which holds at 200 and thus confirms that if the market breaks below the same then bearish momentum might take control in the upcoming session. Alternatively, if the support holds there strong, then a bounce back is likely and the market might turn positive. Resistance holds at 207.

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Enrich Commodities India Pvt.Ltd
Published on 17/11/2017 11:58:44 AM

LEAD

Technical view:

Lead is in short-term bearish phase. The daily Technical chart of Lead has formed strong bearish candle indicating downtrend Fibonacci retracement level support at 155.50 with upside Key resistance at 159.60-161. Sell on rise would be a better trading strategy in this current market scenario or dips on buy support level.

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Enrich Commodities India Pvt.Ltd
Published on 17/11/2017 11:58:15 AM

COPPER

Technical view : 

The daily chart of the Copper market has formed “Falling wedge” pattern. In this pattern, the previous session displays a strong bearish momentum and as per candlesticks formations, the upcoming session is expected to bounce back the strong support level 438 to push higher side 442-446.

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Enrich Commodities India Pvt.Ltd
Published on 17/11/2017 11:56:16 AM

ALUMINIUM

Technical View 

Aluminium Hourly chart has formed “Descending triangle” pattern. The previous session has clearly taken the formation and ended up retesting the triangle’s short-term support level itself which is holds at 136.30. The market is expected to continue on bullish momentum to balance the last correction. Alternatively, if the market breaks below the support level, then bearish trend will continue to control the same. Resistance holds at 137.80.

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Enrich Commodities India Pvt.Ltd
Published on 17/11/2017 11:16:50 AM

CRUDEOIL

Technical View

Crude Oil Daily chart has formed “Ascending Broadening Wedge” pattern, where market has been strongly bullish with some small corrections for over few months. Expectations are higher as the last market session had a correction and the upcoming one it is expected to pullback bullish again as per the channel’s nature once it takes support on the key support level holding near $54.50(3530). Resistance holds at $56(3630).

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Enrich Commodities India Pvt.Ltd
Published on 17/11/2017 10:37:23 AM

GOLD

Technical View

Gold 4HR chart has formed “Ascending broadening wedge” pattern and the corrections are clear that market is on a rally to break every possible higher resistance in the previous sessions. The same is expected in the upcoming one that market will have some small correction, but will rally on bullish momentum as per the analysis. Once the market breaks above the strong resistance level which holds at $1286(29550) then the buy signal will be confirmed towards next higher resistance level. Support holds near $1277.50(29340).

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Enrich Commodities India Pvt.Ltd
Published on 16/11/2017 1:00:04 PM

ZINC

Technical view:

Zinc is in short term bears phase. The daily Technical chart of zinc displays an ascending triangle which is generally considered to be a continuation pattern. Strong support holds at 206.40. If it breaks, the support price could fall up to 204.50-200 Resistance holds at 209. Sell on rise would be a better trading strategy in this current market scenario.

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Visit www.enrichbroking.com/research/