Commodity MCX Metals & Energy Report

COPPERmcxAPR
Technical Levels
R3 - 465/482
R2 - 438/441
R1 - 422/425/431
Pivot - 418.60
S1 - 416/410
S2 - 400
S3 - 388


Technical Commentary:

The day’s bias should broadly stay negative as long as 424-426 region caps upside. Consistent trades below the same would stretch the trend towards 410/404 in near term. However, a pullback cannot be ruled out towards 429 region might negate the bearish view.

Trends:

Intraday--> Consolidate

Near Term--> Consolidate

NICKELmcxMAR
Technical Levels
R3 - 1280/94
R2 - 1208/24/65
R1 - 1178/89
Pivot - 1175
S1 - 1162/1156
S2 - 1145/1130
S3 - 1110


Technical Commentary:

Initial pullback is favourd towards 1182-88, but failure to break 1189 would consolidate and drift lower later. However direct fall below 1162 would rekindle bearishness towards 1145/1130 in near term. Prices have to close above 1202 region to negate the broad weak outlook.

Trends:

Intraday--> Up
Near Term--> Down

LEADmcxMAR
Technical Levels
R3 - 123/127
R2 - 119/121.70
R1 - 116.20/118
Pivot - 113.40
S1 - 108.70/108
S2 - 107.30/106
S3 - 104

Technical Commentary:

Unable to cut above 112 may see prices to slip down towards 108 then 105 levels. However, short covering rally above 113 may see prices to drift upwards towards 115 then 116 levels.

Trends:

Intraday--> Down
Near Term--> Down

ZINCmcxMAR
Technical Levels
R3 - 111
R2 - 106/108.60
R1 - 103.50/104.70
Pivot - 102
S1 - 100/99.40
S2 - 98.40/97.20
S3 - 95.70/93

Technical Commentary:

Inability to cross above 104 would see prices drifting lower towards 99/95 levels. However, trade above the same likely extends momentum towards 106.

Trends:

Intraday--> Consolidate

Near Term--> Down

CRUDEmcxMAR
Technical Levels
R3 - 4900
R2 - 4835/60/80
R1 - 4750/4790
Pivot - 4723
S1 - 4670/630
S2 - 4590/4540
S3 - 4480

Technical Commentary:

Failure to clear above 4780-800 may diffuse the present buying momentum and prices would retract in to 4680-70 regions. Major falls are anticipated towards 4650/600 followed by 4500 once it consistently trades below the support 4670.

Trends:
Intraday--> Consolidate
Near Term--> Up

NAT. GASmcxMAR
Technical Levels
R3 - 190
R2 - 184/186
R1 - 179/181
Pivot - 177
S1 - 173
S2 - 171
S3 - 168/164

Technical Commentary:

While 173 hold the downside expect a rise towards 179 initially, but consistency above the same would strengthen the momentum towards 183/186 in near terms.

Trends:
Intraday--> Up
Near Term--> Down