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 454. The upside rally could be testing all the way through 458-462 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 445-440 levels. Key support holds at 440.
Lead
Lead daily chart has formed “Falling channel” pattern. The last few sessions ended up bearish in trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 142.50.The downside rally could be testing all the way up to 141-140 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 145-146 level. Key resistance holds at 146.
Nickel
Nickel daily chart 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 based on the current price action, once the same breaks above a key resistance holding at 902. The upside rally could be testing all the way through 910-920 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 875-860 levels. Key support holds at 860.
Zinc
Zinc daily chart has formed a “Rectangle chart” pattern. The last session ended up bullish in trend after a few negative rallies inside the channel. The market is expected to continue on bullish momentum based on the current rice action, once the same breaks above a key resistance holding at 192.50. The upside rally could be testing all the way through 194-196 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 188-185 levels. Key support holds at 185.
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