Aluminium daily chart has formed “Falling channel” 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 trend based on the current price action, testing all the way through 133-135 levels in the upcoming sessions. Alternatively, if market breaks below a key support holding at 130 then it might turn bearish once again. The downside rally could test up to 128-126 levels. key resistance holds at 135.
Copper
Copper 4hr chart has formed “Ascending broadening wedge” pattern. The last few sessions been in bullish trend but also consolidated near the channel’s support slope line. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 443. The upside rally could be testing all the way through 448-452 levels 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 438-433 levels. Key support holds at 433.
Lead
Lead daily chart has formed “Falling channel” pattern. The last session ended up bullish in trend after few negative rallies inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 148.50. The upside rally could be testing all the way up to 150-151 levels 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 146-145 level. Key support holds at 145.
Nickel
Nickel daily chart has formed “Right-angled Descending broadening wedge” pattern. The last session has been in bullish trend after a few negative rallies 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 888. The upside rally could be testing all the way through 900-910 levels 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 870-860 key support holds at 860.
Zinc
Zinc daily chart has for “Rectangle chart pattern. The last session ended up bullish in trend after a few negative rallies inside the channel. The
The market is expected to continue on bullish momentum based on the price action, testing all the way through 190-196 levels 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 186-184 levels. Key support holds at 184.
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