GOLDmcxAPR(m)
Technical Levels:
R3 - 21500/21900
R2 - 20930/190/350
R1 - 20680/20840
Pivot - 20654
S1 - 20600
S2 - 20540/20455
S3 - 20400/200
Technical Commentary:
Falls till 20400 is still in order, but intraday move may be limited is unable to clear below the intraday support 20600. Direct fall below the same would require resuming further sell off for the day. However failure to break below 20600 may slow down the present weak momentum and call for a corrective recovery later.
Intraday>> Down
Near Term>> Up
SILVERmcxAPR(m)
Technical Levels:
R3 - 57000/60000
R2 - 54300/55000
R1 - 52500/53100/600
Pivot - 52100
S1 - 51800/51000
S2 - 50700/50200
S3 - 49800
Technical Commentary:
Consolidations have been progressing near 52800-51350 ranges. Breakout of the range either side would be required to obtain sustainable moves for the day. We favour more downside falls towards 51000/50100/4900 in near term, if it directly fell below the support. Inability to clear below the same may call for a corrective pullback, and such moves may find resistance at 53000 later.
Trends:
Intraday>> Down
Near Term>> Up
COPPERmcxAPR
Technical Levels:
R3 - 465/482
R2 - 433/438/441
R1 - 426/429.50
Pivot - 423.20
S1 - 420/416/412.50
S2 - 410/404/400
S3 - 388
Technical Commentary:
Failure to cross above 426-427 may trigger fresh selling towards 418 followed by 413 levels for the day. However, any cross above 428 may witness a sharp rally towards 432 then 437
Intraday>> Consolidate
Near Term>> Down
NICKELmcxMAR
Technical Levels:
R3 - 1280/94
R2 - 1208/24
R1 - 1059/1082
Pivot - 1144
S1 - 1132
S2 - 1120/109
S3 - 1100/1088
Technical Commentary:
Even though the broad trend looks weak, intraday we favour corrective pullback towards 1162/73 or more as long as 1120 hold the downside. A direct fall below 1120 would be a strong selling signal towards 1100 in near term.
Intraday>> Up
Near Term>> Down
LEADmcxMAR
Technical Levels:
R3 - 118/119
R2 - 117.20
R1 - 116.40
Pivot - 115.60
S1 - 114.50/112
S2 - 111.50/110
S3 - 106/104
Technical Commentary:
While below 116.70 implying a downtrend is still in picture. Moreover, down side support is at 115, breaks below the same signals a fresh downtrend may witness. However, unable to break below the same might price to trade in a choppy range.
Intraday>> Down
Near Term>> Consolidate
ZINCmcxMAR
Technical Levels:
R3 - 111
R2 - 106/108.60
R1 - 105.40
Pivot - 104.50
S1 - 103/102
S2 - 100/99.40/98.40
S3 - 95.70/93
Technical Commentary:
Overall, negative trend is prevailing as long as 105.50 caps upside. We expect while below 103 may extend the downtrend towards 101.80 /100 levels. However, breaks above 105.80 might see uptrend towards 107 levels.
Trends:
Intraday>> Down
Near Term>> Down
CRUDEmcxMAR
Technical Levels:
R3 - 4900
R2 - 4710/70/80
R1 - 4500/4535/4600
Pivot - 4426
S1 - 4400
S2 - 4370/4300
S3 - 4272
Technical Commentary:
Initial moves expect to continue the pullback rallies towards 4500/535, but inability to trade consistently above 4550 would call for a consolidation and drag prices lower later. However our favoured view for strong sell off only if prices sustain below 4380 towards 4300 or more.
Intraday>> Down
Near Term>> Consolidate
NAT. GASmcxMAR
Technical Levels:
R3 - 190
R2 - 184/186
R1 - 181
Pivot - 180.20
S1 - 173
S2 - 171/169
S3 - 167/164
Technical Commentary:
Likely to move up and find resistance at 184/187 as long as 174 hold the downside. Prices have to clear below the strong support 173 to negate our intraday bullish expectations.
Trends:
Intraday>> Up
Near term>> Down
