301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
14/12/2017
301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
14/12/2017
TECHNICAL ANALYST
GOLD
OUTLOOK:
TREND: - DOWN
TECHNICAL OUTLOOK
The daily technical chart of Gold future market has formed Falling wedge pattern which
descends in bearish momentum. The last few sessions have been successfully bullish by
retesting the channels support line which is also pointed as a junction place as given in
the chart. The market is expected to continue in the same trend and the upside rally
could test $1262-1265-1270(28295-28370-28495) levels in the upcoming sessions.
Resistance holds at $1265(28370) and support holds at $1255(28120).
301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
14/12/2017
OUTLOOK:
SILVER
TREND: - DOWN
TECHNICAL OUTLOOK
Silver daily chart has formed a Falling wedge pattern. The last few sessions tested the
support and seem a bit consolidated near the channels support line which could trigger
bullish momentum in the upcoming days. Market is expected to continue on bullish trend
with some small negative correction along the way testing 38000-39000 in long term
positional basis. Resistance holds at 39000 and support at 36500.
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14/12/2017
COPPER
OUTLOOK:
TREND: - DOWN
RESISTANCE: - 438.50,441.
TECHNICAL OUTLOOK
Copper 4Hr chart has formed a Descending broadening wedge pattern. The last few
sessions been successfully bullish after the consolidation near the channels support line.
Market is expected to continue in bullish trend testing all the way through 440-442.50
levels in upcoming sessions. Resistance holds near 441 and support at 431.50.
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CRUDE OIL
OUTLOOK:
TREND: - DOWN
TECHNICAL OUTLOOK
Crude oil future 4HR chart has formed Megaphone chart pattern and as per the technical
aspects of the pattern, the last sessions have been successfully bearish by retesting the
resistance level of the channel. Market is expected to continue to rally in the same
momentum and could test $56-55.50(3600-3567) levels in the upcoming sessions.
Alternatively, a long-term support holds at 56 where market might have a chance to retest
the same and turn bullish and could test $57-57.50(3665-3696). Resistance holds at
$57.50(3696) and support at $55(3535).
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14/12/2017
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