Aluminium daily chart has formed “Falling channel” pattern. The last few sessions ended up in bearish trend along with some corrections inside the channel. The market is expected to continue on the bearish momentum based on the current price action, once the same breaks below a key support holding at 14.50. The downside rally could be testing all the way through 145-143 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 149-150 levels. Key resistance holds at 150.

Aluminium April Futures

Copper

Copper 4hr chart has formed “Ascending broadening wedge” pattern. The last session been in bearish trend and consolidated 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 447. The downside rally could be testing all the way through 444-440 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and furthermore levels. Key resistance holds at 455.

Copper April Futures

Lead

Lead daily chart has formed a “Falling channel” pattern. The last session ended up bearish in trend after a few positive rallies inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below key support holding at 139.50. The downside rally could be testing all the way up to 138-137 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and same and turn bullish once again. The upside rally could test up to 141-142 level. Key resistance holds at 142.

Lead April Futures

Nickel

Nickel daily chart has formed “Right-angled Descending broadening wedge” pattern. The last sessions have been in bearish trend after few sideways rallies inside the channel. The market is expected to continue on the bearish term based on the current price action, testing all the way through 900-890 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 920 then bullish once again. The upside rally could test up to 930-940 level. Key support holds at 890.

Nickel April Futures

Zinc

Zinc daily chart has formed “Rising wedge” pattern. The last session ended up in consolidation after a long gap up formation inside the channel. The market is expected to continue on bearish momentum based on the current price action, testing all the way through 221-219 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 225 then it might turn bullish once again. The upside rally could test up to 227-228 levels. Key support holds at 219.