aluminium weekly outlook for 31 aug to 4 sep 2015
Mcx aluminium future this week closed with gain. Aluminium prices continuously taking support at 10 rupee levels and sustaining above it. On upside 104.5 and 107.7 are strong averages resistance levels. For next week, recovery rally may continue towards targets of 104.4 and 107.5. These are strong resistance zones also. On downside 99 and 96 are strong support areas.
copper weekly outlook for 31 aug to 4 sep 2015
Mcx copper future this week closed with gain. Copper prices after last 3 weeks consolidation finally given upside move. On upside 350 and 364 are strong averages resistances on weekly chart. Weekly chart copper price and indicators patterns are bullish. For next week copper future might test 349 and then 364 levels. On downside 320 and 305 are strong support zones.
lead weekly outlook for 31 aug to 4 sep 2015
Mcx lead future this week closed with loss. This was second weekly loss for this base metal. Lead future faced strong supply at its 3month average level of 114 and given reversal from that level. This week lead future hit high at 112.45 while low was at 107.5. Total 5 rupee or 4% weekly range and closed with loss. For next week lead future outlook is bearish below 111.5 levels. On downside 104 and 100 are strong support zones and target if downtrend persist. On upside 111.5 and 115.6 are strong resistances.
nickel weekly outlook for 31 aug to 4 sep 2015
Mcx nickel future this week closed with loss. This was sixth losing week for nickel prices. This week nickel future hit high at 666 while low was at 618. Total almost 50 rupee weekly range or 7% volatility and another weak closing on continues selling. On upside 723 and 780 are strong resistances of major averages on weekly chart. For next week outlook remain weak and on downside 640 and then 599 are support zones as well as target levels. On upside 675 and 715 are strong resistances and remain stop loss levels for short positions.
zinc weekly outlook for 31 aug to 4 sep 2015
Mcx zinc future this week closed with strong gains. After hitting low near 110 zinc prices recovered strongly on sharp short covering. This week zinc future hit high around 119.5 while low was at 110.5 total 9 rupee or 8% weekly range and closed with gain. On upside 124 and 128 are strong resistances. For next week above 118 zinc will remain bullish for targets 126 and 131. Below 118 expect downtrend to resume for 113 and 105 target.