Mcx base metals commodity weekly technical report for 17 to 21 April 2017

Mcx aluminium weekly-hit target 122.15 now expect reversal

Mcx aluminium future this week closed with loss at 123. This was second losing week for aluminium prices. This week aluminium hit high 125.7 and low near 122.25. Total almost 3.5 rupee range and closed near week low but above support of 122.15. Mcx aluminium future trend is down and hit 122.15 below it next target will be 117. But now prices looking oversold so expect reversal rally. For next week, mcx aluminium future remain buy on dips with stop loss. On downside 122.2 and 121.6 and 119 are support zones while on upside 125.1 and 126.2 are resistances as well as target zones.   read more about : Dilemma Of Using Technical Analysis in trading.   From long term view, mcx aluminum hit 2017 investment target of 126.8 and above it next target will be 137 rupees. On downside 118 and 112 are major support zones as well as buying zones for long term investors. mcx aluminium weekly technical report for 17 to 21 April 2017

Mcx copper weekly-copper hit 365 target now remain buy on dips

Mcx copper future this week closed with loss at 366.2. This was forth losing week for copper prices.in these 4 weeks copper lost almost 26 rupees in its price. This week copper future hit high at 376 while low was near 363. Total 13 rupee range and now off the lows. Mcx copper future hit 365 rupee target after breakdown below 387 and now looking oversold. Below 365, mcx copper have major support at 348 rupees so failure to recover will result on sharp sell off up to 348 rupees. For next week, mcx copper future outlook remain bullish and trading strategy remain buy on dips. On downside 363 and 355 are support zones. On upside 371 and 377 are resistances as well as target zones on reversal.   read more about : What Is Market Momentum ?   From long term view, mcx copper still bullish and testing support of 361 rupees. Above it long term outlook remain bullish and targets will be 430 and 488 rupees. mcx copper weekly technical report for 17 to 21 April 2017

Mcx lead weekly-hit 144 bearish target next is 138 rupees

Mcx lead future this week closed at 144.75 with loss. This was third losing week for mcx lead prices and in these 3 weeks lead future lost almost 9 rupee from its value. This week lead traded in small range and closed flat. This week high was at 147 and low was around 143, total 4 rupee range and closed with loss. Mcx lead future hit 144 bearish swing target after breakdown below 150.5. Below 144 next major support or bearish target zone will be 138 rupees. For next week mcx lead might bounce back from oversold zone so remain buy on dips above 144 support zones. mcx lead on upside will have resistance zones at 147-149 and 150.5 while on downside 144.25 and 143.15 are support zones as well as fresh buying levels for against the trend traders.   read more about : how to do commodity market trading ?   From long term view, mcx lead is heading towards 140 rupees major support zones. Above 140 on weekly closing basis, long term outlook remain bullish and investors can expect 173 and 209 in 2017. mcx lead weekly technical report for 17 to 21 April 2017

Mcx nickel weekly-breakdown continues towards targets zones 605-555

Mcx nickel future this week closed at 626 with heavy loss. After last 2 weeks bounce back nickel resumed bearish trend and hit fresh low and closed near it. This week mcx nickel future hit high at 658 and low was 625. Total 33 rupee range and closed near lows with amid short selling. Mcx nickel future price trend and momentum is bearish and we saw reversal from 675 rupee levels which was bullish breakout failure which resulted in strong selling. On downside 605 and then 555 are major support zones for month and target levels for current trend. For next week, mcx nickel future outlook remain bearish and traders can expect targets of 615 and 605 on downside. On upside 640 and 649 are resistance zones as well as fresh short entry zones with stop loss. From long term view, mcx nickel is in bearish trend and we saw major breakdown at 687 rupee level on weekly charts. On downside 535 and 377 are long term support zones as well as target zones for current long term downtrend. mcx nickel weekly technical report for 17 to 21 April 2017

Mcx zinc weekly-bouncing back from oversold remain buy on dips

Mcx zinc future this week closed at 168.7 with loss. This was fourth week of losses for zinc prices. In these 4 week zinc collapsed from 188+ to lows of 164. Total 24 rupee sharp fall in short terms. Mcx zinc future with breakdown below 184 hit downside bearish tgt zones of 174 and 166 rupees and now looks oversold. Mcx zinc future price trend is down but prices are oversold and we’re seeing short covering at bottom. For next week, mcx zinc future outlook remain bullish and strategy remain buy on dips above 164 bottom support. On upside 170-173 and 176 are target zones while on downside 166 and 164 are support zones.   check out about : our Nifty Trading Tips On Whatsapp service

  From long term view, mcx zinc heading towards 158 rupee long term support zone. Above it 2017 outlook remain bullish and investment strategy remain buy on dips for target zones 220 and then 265. mcx zinc weekly technical report for 17 to 21 April 2017 Want professional Sure MCX Commodity Tips on whatsapp with live market support and follow ups then subscribe us today.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

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