Commodity MCX Metals & Energy Report and Trading Tips

COPPERmcxAPR
Technical Levels:
R3 - 465/482
R2 - 438/441
R1 - 419/422/425
Pivot - 415.60
S1 - 412.50/411
S2 - 410/404/400
S3 - 388

Technical Commentary:

Expects a move lower towards 411 then 408 as long as gains remain capped near 423. However, any bounce back above 423 expect to take prices higher towards 426/430 levels.

Trends:
Intraday-> Consolidate
Near Term-> Down

NICKELmcxMAR

Technical Levels:
 R3 - 1280/94
 R2 -  1208/24
R1 - 1170/88/94
Pivot - 1162
S1 - 1152
S2 - 1146/1130
S3 - 1110/1106


Technical Commentary:

Prices are stuck inside a range of 1152-1194, but favoured view of a sustainable direction only on the break out of the range either side. We favour more downside moves than the upside, once it cleared the support.

Trends:

Intraday-> Consolidate

Near Term-> Down

LEADmcxMAR

Technical Levels:
R3 - 118/119
R2 - 115.20/116.40
R1 - 114.40
Pivot - 113.80
S1 - 111.50/110
S2 - 109/108.70
S3 - 106/104

Technical Commentary:

While above 112.50 see prices to trade higher towards 115 /117 levels. Direct falls below 112.50 may see prices to drift lower towards 111.40 followed by 109 levels.

Trends:
Intraday-> Up
Near Term-> Consolidate

ZINCmcxMAR
Technical Levels:
R3 - 111
R2 - 106/108.60
R1 - 104.70/105.40
Pivot - 103.80
S1 - 103/102
S2 - 100/99.40/98.40
S3 - 95.70/93

Technical Commentary:

While below 104.50 see prices to trade lower for the day. However, a pullback might see towards 104 before resuming the downtrend.

Trends:
Intraday-> Down
Near Term-> Down


CRUDEmcxMAR
Technical Levels:
R3 - 4900
R2 - 4710/70/80
R1 - 4535/4600
Pivot - 4492
S1 - 4440/4412
S2 - 4370/4300
S3 - 4272

Technical Commentary:

Initial moves are expected to continue the prevailing weak bias 4440/4410, but inability to break below 4400 would considerably weaken the momentum and call for a corrective pullback later. However a direct fall below 4400 may take prices towards 4300/220 in near terms. Unexpected rise above 4532 may negate the view.

Trends:
Intraday-> Down
Near Term-> Consolidate

NAT. GASmcxMAR

Technical Levels:
R3 - 190
R2 - 184/186
R1 - 181
Pivot - 179
S1 - 176/173
S2 - 171
S3 - 168/164

Technical Commentary:

While 176 hold, prices have more rooms for further upside towards 184/187 or more. It would be required to break below 171 to weak the momentum.

Trends:
Intraday-> Up
Near Term-> Down