mcx aluminium weekly analysis for 15 to 19 june 2015
Mcx aluminium future on last trading session closed at 110.05 with loss. On daily chart aluminium future price is in downtrend with fresh bearishness on indicators suggesting another low for prices in next week. This week aluminium future closed with loss after last week’s bounce back. Next week metals outlook remain very bearish and expect strong selloff. Below 114 aluminium will remain sell on rise with stop loss at 115. On downside 104 to 100 rupee are targets for June series.
mcx copper weekly analysis for 15 to 19 june 2015
Mcx copper future last closed at 380 with gains. Daily chart price trend and momentum both are down and future is trading below 3 and 1 month averages. This was 6th losing week for copper prices on china concerns. Weekly chart is now bearish suggesting much downside for this metal. For next week 374 and 360 are copper targets with stop loss above 400.
mcx lead weekly analysis for 15 to 19 june 2015
Mcx lead also in downtrend and closed at 119.25 with gain on Friday. Future is trading below 3 and 1 month averages with strong bearish patterns on indicators. This week we seen high volatility in this metal and finally closed with sharp losses in end. This week lead hit high around 126 while low was around 119. 7 rupee range and second weekly loss. For next week, outlook is bearish 118 is support and daily closing below it means sharp selloff rally up to 111.7.
mcx nickel weekly analysis for 15 to 19 june 2015
Mcx nickel future last closed at 842 with loss. On daily chart, nickel future price trend and momentum both are bearish. On upside 855 is 3 month average and strong resistance on daily chart. This week nickel closed with gains and this was second weekly gains for this base metals mostly on short covering by strong hands. This week candle as well as bar pattern suggesting reversal for recovery rally and primary trend might continue. Below 850 on daily closing basis stay short for deep downside targets.
mcx zinc weekly analysis for 15 to 19 june 2015
Mcx zinc closed at 136.3 with gains on last trading session. 139 is 1 and 3 month average levels and strong resistance. This week zinc future closed with loss. This was second weekly loss for this base metals. This week zinc high was at 139 while low was at 134. Total 5 rupee range and closed with loss. Weekly chart price trend and momentum both are down. Next week 134 is most important support and below it expect 127 as target levels for mcx zinc.