Enrich Commodities India Pvt.Ltd
Published on 22/01/2018 1:05:10 PM

COPPER

Technical outlook 

Copper daily chart has formed "Bullish pennant chart” pattern. The last session ended up bearish near the channel’s support near 448 and has formed an “Inverse Hammer” candlestick pattern which could be read as a trend reversal one. The market is expected retest the support level and turn bullish, testing all the way through 453-455 levels in the upcoming sessions. Alternatively, if the market breaks below the support then it might continue in bearish. The downside rally could test 445-443 levels. Resistance holds at 455.

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Enrich Commodities India Pvt.Ltd
Published on 22/01/2018 1:04:52 PM

SILVER

Technical outlook 

Silver daily chart formed "Broadening top chart” pattern. The last few sessions seems consolidated but bearish in trend inside the channel. The market is expected to continue in bearish momentum, testing all the way through 38700-38500 levels in the upcoming sessions. Alternatively, market has a slight chance of giving a small correction along with the positive momentum. Resistance holds at 39250 and long-term support at 38500

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Enrich Commodities India Pvt.Ltd
Published on 22/01/2018 1:04:33 PM

NATURAL GAS

Technical outlook

Natural gas daily chart has formed "Inverse Head & Shoulders” pattern. The last few sessions consolidated as the prices have retested the channel’s resistance neckline. The market is expected to continue on bullish momentum once the same breaks above the neckline resistance level holding at 209 with a small correction on negative side, testing all the way through 212-214 levels in the upcoming sessions. Alternatively, if the resistance level holds strong then sellers might take control over the market. Support holds at 200.

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Enrich Commodities India Pvt.Ltd
Published on 22/01/2018 1:04:19 PM

ZINC

Technical outlook

Zinc daily chart has formed "Rising wedge” pattern. The last session ended up bullish retesting the channel’s support slope line. The market is expected continue on the same trend, testing all the way through 220-222 levels in the upcoming sessions. Alternatively, if the market breaks below the Support level holding at 217 then it might continue in bearish. Resistance holds at 222.

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Enrich Commodities India Pvt.Ltd
Published on 22/01/2018 1:04:04 PM

LEAD

Technical outlook

Lead daily chart has formed "Ascending triangle” pattern. The last session ended up bearish as the prices have already broken out the channel’s resistance level itself. The market is expected retest the same level and turn bullish once again, testing all the way through 167-168 levels in the upcoming sessions. Alternatively, if the market breaks below the Support level holding at 164.50 then it might continue in bearish. The downside rally could test 163-162 levels. Resistance holds at 168.

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Enrich Commodities India Pvt.Ltd
Published on 22/01/2018 1:03:48 PM

NICKEL

Technical outlook

Nickel 4Hr chart continues in "Ascending broadening wedge” pattern. The last few sessions seems consolidated but bullish in trend inside the channel near after retesting its support slope line. The market is expected to continue in bullish momentum, testing all the way through 820-830 levels in the upcoming sessions. Alternatively, market has a slight chance of giving a small correction along with the positive momentum. Resistance holds at 840 and long-term support at 783.

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Enrich Commodities India Pvt.Ltd
Published on 22/01/2018 1:03:28 PM

ALUMINIUM

Technical outlook

Aluminium 4hr chart has formed "Rising wedge” pattern. The last session ended up bearish as the prices have retested the channel’s resistance slope line. The market is expected continue on bearish momentum once the same breaks below the support level holding at 141, testing all the way through 140-139 levels in the upcoming sessions. Alternatively, if support holds strong then the market might turn bullish once again. The upside rally could test 143-144 levels. Resistance holds at 145

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Enrich Commodities India Pvt.Ltd
Published on 22/01/2018 10:45:44 AM

GOLD

Technical outlook

Gold 4Hr chart continues in "Ascending broadening wedge” pattern. The last few sessions seems consolidated inside the channel near its support slope line. If the support holds strong near $1328(29690), then the market might continue on the bullish trend, testing all the way through $1335-1340(29865-29990) levels in the upcoming sessions. Alternatively, if the market breaks below the support then seller might take control over the market. The downside rally could test $1325-1320(29615-29490) levels. Resistance holds at $1340(29990).

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Enrich Commodities India Pvt.Ltd
Published on 22/01/2018 10:43:51 AM

CRUDEOIL

Technical outlook

Crude Oil 4Hr chart continues in "Ascending broadening wedge” pattern. The last few sessions seems consolidated inside the channel near its support slope line. If the support holds strong near $63(4030), then the market might continue on the bullish trend, testing all the way through $64-65(4094-4158) levels in the upcoming sessions. Alternatively, if the market breaks below the support then seller might take control over the market. The downside rally could test $62.50-62(3998-3966) levels. Resistance holds at $65(4158).

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