by Rahul Rana | Apr 2, 2019 | Analysis, Market-Watch Staff
MCX Gold June futures technical chart has taken the formation of “Ascending broadening wedge” 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 bearish momentum. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 31750. The negative rally could be extending all the way up to 31600-31500 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 up to 31900-32000 levels. Key resistance holds at 32000.
by Rahul Rana | Apr 1, 2019 | Analysis, Market-Watch Staff
MCX Crude Oil futures technical chart has taken the formation of “Ascending broadening wedge” pattern in 4-hours’ time frame. previously few sessions ended up in sideways trend but also bullish in long- term along with some corrections inside the channel. As per the technical aspects based on the current price action, the market is expected to continue on bullish trend. The continuation of the trend will be confirmed once the price breaks above a key resistance holding at 4210. The positive rally could be testing all the way up to 4260-4300 levels in the upcoming session. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. Such reversal could possibly test up to 4120-4050 level. Key support holds at 4050.
by Rahul Rana | Apr 1, 2019 | Analysis, Market-Watch Staff
MCX Gold June futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last session ended up bullish in trend after few negative rallies inside the channel, where the market is expected to continue on bullish momentum. The continuation of the trend will be confirmed once the prices breaks above a key resistance holding at 31800. The positive rally could be extending all the way up to 31900-32000 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might have a chance to retest the same and revise the trend to bearish once again. The downside rally could test up to 31600-31500 levels. Key support holds at 31500.
by Rahul Rana | Mar 18, 2019 | Analysis, Market-Watch Staff
Mcx Silver may futures technical chart has taken the formation of “Megaphone chart” pattern in daily time frame. Last few sessions ended up in bearish 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 once the prices breaks below a key support holding at 37950. The negative rally could be extending all the way up to 37800-37600 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 38200-38400 level. Key resistance holds at 38400.
by Rahul Rana | Mar 18, 2019 | Analysis, Market-Watch Staff
Natural gas daily chart has formed “Falling wedge” pattern. The last few sessions ended up in sideways trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the price action, testing all the way through 188-182 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 198 then it might turn bullish once again. The upside rally could test up to 204-210 level. Key support holds at 182.
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