ALUMINIUM Technical view :
Aluminium daily chart has formed a “falling wedge” pattern. The last few sessions since more than a week seem to be strongly bullish in trend as the breakout in the channel’s resistance slope line triggered the same and exclusively last session ended in a small correction with negative momentum. The market is expected to rally on bullish till it reaches near the major resistance level, testing all the way through 141-142.50 levels in the upcoming sessions. Major Resistance holds strong at 142.70 and Previous resistance become near support at 137
COPPER Technical view :
The daily chart of Copper market has formed “Rising wedge” pattern where the last few sessions seems successfully bullish in trend and has ended up meeting with a major resistance level holding at 465. This indicates that market is expected to continue on bullish momentum. Once it breaks above the 465 resistances, the rally could test 467 levels in the upcoming sessions. Alternatively, if support hold at 462 once its breaks trend might turn bearish and downside target expected till support 460- 458
SILVER Technical view :
Silver daily chart has formed a “Descending broadening wedge” pattern. The last few sessions been strongly bullish which indicates that buyers are taking control over the market. The upside rally could test all the way through 38660-39000 levels in the upcoming sessions. Major Resistance holds at 40000 and key support at 36666.
ZINC Technical view :
Zinc Daily chart has formed a “Rising wedge” pattern and “neutral doji” The last session seems under consolidation patterns are signs of bull and bear indecision the channel but has been bullish in trend till resistance holds near 211 supports hold lower channel 206.
LEAD Technical view :
The last market session of Lead futures has formed a bearish candle pattern and has broken the previous low. The trend is likely to remain bearish till the support 157.50 and international market continues towards selling pressure a price once taken a support further upside rally could test 160-162 level.
NATURAL GAS Technical view :
Natural gas daily chart has formed a “falling wedge” pattern. The last few sessions seem to have opened in a gap up and been strongly bearish in trend. The market is likely to continue on the correction for a while till it reaches the support level holding at 166, a retest can be expected at the same which might turn the trend to positive testing all the way through 175-180 levels in the upcoming sessions. Resistance holds strong near 185.
NICKEL Technical view :
Nickel weekly chart had displayed “Fibonacci retracement level” which have tested 50% level. The last session seems under consolidation on higher level with day support at 760- 749.Resistance holds near 770.