by Rahul Rana | Mar 14, 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 bullish momentum based on the price action, testing all the way through 200-204 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 192 then it might turn bearish once again. The downside rally could test up to 188-184 level. Key resistance holds at 204.
by Rahul Rana | Mar 14, 2019 | Analysis, Market-Watch Staff
Crude Oil futures technical chart has taken the formation of “Ascending broadening wedge” pattern in 4-hours’ time frame. Previously few sessions ended up bullish in trend 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 4080. The positive rally could be testing all the way up to 4150-4200 level in the upcoming sessions. An alternative scenario indicates that if key resistance holds strong then market might have a chance to retest the same and revise the trend to bearish once again. Such reversal could possibly test up to 3980-3900 level. Key support holds at 3900.
by Rahul Rana | Mar 14, 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 few session ended up bullish in trend along with some corrections 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 32280. The positive rally could be extending all the way up to 32380-32500 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 32100-32000 levels. Key support holds at 32000.
by Rahul Rana | Mar 13, 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 sideways in trend 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 prices breaks above a key resistance holding at 4000. The positive rally could be testing all the way up to 4100-4180 level in the upcoming sessions. An alternative scenario indicates that if 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 3900-3830 level. Key support holds at 3830.
by Rahul Rana | Mar 13, 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 few sessions ended up sideways in trend along with some corrections inside the channel, where the market is expected to continue on bullish momentum. The positive rally could be extending all the way up to 32100-32200 levels in the upcoming sessions. An alternative scenario indicates that if the market breaks below a key support holding at 31900 then it might revise the trend to bearish. The downside rally could test up to 31800-31700 levels. Key resistance holds at 32200.
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