by Rahul Rana | Feb 12, 2019 | Analysis, Market-Watch Staff
Mcx Silver March futures technical chart has taken the formation “Megaphone chart” pattern in daily time frame. Last few sessions ended up bearish in trend along with some corrections inside the channel. where the market is expected to continue on the bearish trend. The continuation of the trend will be confirmed ones the prices breaks below a key support holding at 39750. The negative rally could be extending all the way up to 39600-39500 levels in the upcoming sessions. An alternation scenario indicates that if the key support holds strong then the market might retest the same and revise the trend to bullish once again. The upside rally could test up to 40,000-40,250 levels. key resistance holds at 40250.
by Rahul Rana | Feb 11, 2019 | Analysis, Market-Watch Staff
MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last session ended up consolidated after few negative rallies inside the chancel, where the market is expected to continue on bullish momentum. The pos
The positive rally could be extending all the way up to 33350-33500 levels in the upcoming sessions. rnative scenario indicates that if the market happens to breaks below a key support holding at 33150 and give a close on daily basis then it might revise the trend to bearish once again. The downside rally could test up to 33300-32900 levels. key resistance holds at 33500.
by Rahul Rana | Feb 11, 2019 | Analysis, Market-Watch Staff
Mcx crude oil futures technical chart has taken the formation of “Right angled Ascending broadening wedge” pattern in daily time frame. previous session ended up in bullish trend but consolidated after few negative rallies, also retesting an interim trend line inside the chancel. As per the technical aspects based on the current price action, the market is expected to continue on bullish trend. The positive rally could be testing all the way up to 3850-3950 level in the upcoming sessions. An alternative scenario indicates that if market breaks below a key support holding at 3700 that it might revise the trend to bearish once again. Such break out could possibly test up to 3600-3500 levels. key resistance holds at 3950.
by Rahul Rana | Feb 11, 2019 | Analysis, Market-Watch Staff
Aluminium daily chart has formed “Megaphone chart”pattern. The last few sessions ended up in bearish trend after retesting an interim trend line inside the chancel. The market is expected to continue on the bearish trend based on the current price action, once the same once the same breaks below a key support holding at 133.
The downside rally could be testing all the way through 131-130 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 136-138 levels. key resistance holds at 138.
by Rahul Rana | Feb 11, 2019 | Analysis, Market-Watch Staff
The natural gas daily chart has formed “Right-angled ascending broadening wedge” pattern. The last few sessions ended up in a bearish trend along with some corrections inside the channel. The market is expected to bearish momentum based on the price action, once the same breaks below key support holding at 182. The downside rally could be testing all the way through 198-195 levels in the upcoming sessions. Alternatively, if the key support holds strong that the market might retest the same and turn bullish once again. The upside rally could test up to 192-200 level. key resistance holds at 200.
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