Enrich Commodities India Pvt.Ltd
Published on 18/01/2018 2:22:28 PM

SILVER

Technical outlook Silver 4Hr chart has formed "Broadening top” pattern. The last few sessions seems consolidated inside the channel indicating bearish momentum. The market is expected to continue on the same trend, testing all the way through 39000-38800 levels in the upcoming sessions. Alternatively, market also might have a chance giving a small correction on positive momentum. Resistance holds at 39420 and support at 38800

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Enrich Commodities India Pvt.Ltd
Published on 18/01/2018 2:22:14 PM

NICKEL

Technical outlook 

Nickel daily chart has formed "Ascending broadening wedge” pattern. The last few sessions seems bearish in trend and has ended up meeting with the channel’s support slope line. The market is expected to retest the level and turn bullish, testing all the way through 805-810 levels in the upcoming sessions. Alternatively, if the market breaks below the key support level holding at 781 then Sellers might take control over the market. Resistance holds at 820.

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Enrich Commodities India Pvt.Ltd
Published on 18/01/2018 2:21:54 PM

NATURAL GAS

Technical outlook 

Natural gas daily chart has formed "Inverse Head & shoulders” pattern along with a long-term “Descending triangle”. The last few sessions seems have already broken the channel’s resistance neckline. The market is expected to continue on bullish momentum, testing all the way through 215-220 levels in the upcoming sessions. Alternatively, if the Key Support gets broken then Sellers might take control over the market. Resistance holds at 220 and previous resistance become Support at 200.

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Enrich Commodities India Pvt.Ltd
Published on 18/01/2018 2:21:33 PM

LEAD

Technical outlook

Lead daily chart has formed "Ascending broadening wedge” pattern. The last session seems consolidated but overall bullish in trend as the prices have retested the channel’s support slope line near 160. The market is expected to continue on bullish momentum once the same breaks above a short-term resistance slope line, testing all the way through 164-165 levels in the upcoming sessions. Once the market breaks above the resistance level holding at 165, then buy signal will be confirmed once again. Alternatively, if the channel’s Support gets broken then Sellers might take control over the market.

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Enrich Commodities India Pvt.Ltd
Published on 18/01/2018 2:21:11 PM

ALUMINIUM

Short term analysis 

Aluminium hourly chart has formed "Ascending broadening wedge” pattern. The last session seems consolidated but overall bullish in trend as the prices have retested the channel’s support slope line near 139.50. The market is expected to continue on bullish momentum, testing all the way through 141-142 levels in the upcoming sessions. Once the market breaks above the resistance level holding at 142, then buy signal will be confirmed once again. Alternatively, if the channel’s Support gets broken then Sellers might take control over the market. Support holds at 139.

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