by Rahul Rana | Feb 13, 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 chancel, 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 39400. The negation rally could be extending all the way up to 39300-39150 levels in the upcoming sessions. An alternative 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 39600-39800 levels. Key resistance holds at 3900.
by Rahul Rana | Feb 12, 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 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 price breaks below a key support holding at 32950-32750 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 33150-33300 levels. Key resistance holds at 33300.
by Rahul Rana | Feb 12, 2019 | Analysis
Mcx crude Oil futures technical chart has taken the formation of “Right angled Ascending broadening wedge” pattern in daily time frame. Previously few sessions ended up in bearish 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 bearish trend. The continuation of the trend will be confirmed once the price breaks below a key support holding at 3660. The negative rally could be testing all the way up to 3600-3500 level in the upcoming session. An alternate scenario indicates that if key support holds strong then the market might have a chance to retest the same and revise the trend to bullish once again. Such reversal could possibly test up to 3850-3950 levels. Key resistance holds at 3950.
by Rahul Rana | Feb 12, 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 channel. The market is expected to continue on the bearish trend on the current price action, once the same breaks below a key support holding at 132. The downside rally could be testing all the way through 130-129 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 134-138 levels. key resistance holds at 138.
by Rahul Rana | Feb 12, 2019 | Analysis, Market-Watch Staff
Natural gas daily chart has formed “Right angled ascending broadening wedge” pattern. The last session ended up in bullish trend after few negative rallies inside the chancel. The market is expected to continue on bullish momentum based on the price action, once the same breaks above a key resistance holding at 195.The upside rally could be testing all the way through 200-205 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bullish once again The upside rally could test up to 185-180 level. key support holds at 180.
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.
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