Aluminium daily chart has formed”Falling channel” pattern. The last few sessions ended up in bullish trend along with some corrections inside the channel. The market is expected to continue on the bullish trend based on the current price action, once the same breaks above a key resistance holding at 135.50. The upside rally could be testing all the way through 137-139 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 132-130 levels. Key support holds at 130.
Copper
Copper 4hr chart has formed “Ascending broadening wedge” pattern. The last few sessions been in bullish trend but also consolidated near 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 458. The upside rally could be testing all the way through 464-468 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 450-445 levels. Key support holds at 445.
Lead
Lead daily chart has formed “Falling channel” pattern. The last few sessions ended up bullish in trend along with some corrections 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 147. The upside rally could be testing all the way up to 148-149 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 145-143 level. Key support holds at 143.
Nickel
Nickel daily chart formed “Right-angled Descending broadening wedge” pattern. The last few sessions have been in bullish trend along with some corrections 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 916. The upside rally could be testing all the way through 925-930-940 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish once again. The downside really could test up to 900-880 levels. Key support holds at 880.
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 price action, once the same breaks above a key resistance holding at 194. The upside rally could be testing all the way through 196-198 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 191-189 levels. Key support holds at 189.
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