Silver Quant Analysis:  07/03/19

Silver Quant Analysis: 07/03/19

MCX Silver March futures technical chart has taken the formation of “Megaphone chart” pattern in daily time frame. Last session ended up in bearish trend after few consolidations inside the channel, where the market is expected to continue on the bearish trend. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 38050. The negative rally could be extending all the way up to 37900-37700 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might have a chance to retest the same and revise the trend to bullish once again. The upside rally could test up to 38300-38500 level. Key support at 38500.

Natural Gas Quant Analysis: 07/03/19

Natural Gas Quant Analysis: 07/03/19

Natural gas daily chart formed “Falling wedge” pattern. The last session ended up in bearish trend retesting near the channel,s resistance slope line. The market is expected to continue on bearish momentum based on the price action, testing all the way through 195-190 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 204 then it might turn bullish once again. The upside rally could test up to 210-215 level. Key support holds at 190.