- Commodity witnessing selling from 200 DMA this will favor bears.
- As per weekly chart, Copper closed below major trend line support zone, this indicates as long as holds below further price fall can be seen.
- As per monthly chart on down side commodity will find strong trend line support zone around 366 and 332. Close Watch.
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- MCX Aluminium has formed head and shoulder formation in daily chart, technical chart indicates further price rise can be seen on commodity closes and holds above 130.
- Short-long term traders will be favored as long as comodity holds above trend line support zone.
- Will find next strong resistance @ 135 if Aluminium holds above 130 as shown in chart no3.
- Stock facing 100 days moving average resistance around 90, stock will favor bulls once closes and holds above 90.
- Weekly chart indicates stock also facing 38.2% fibonacci retracement resistance around 90. Further price rise can be seen once stock starts trading above 90.
- As per monthly chart stock has formed Doji Candle Formation this indicates sharp movement expecting in coming days.
- Stock moving up from 23.6% fibonacci retracement support zone, this will favor bulls as long as holds above.
- Weekly chart indicates stock will find strong trend line resistance zone at current levels, will favor short-long term bulls once closes and holds above.
- As per technical chart no3, stock will find trend line resistance around 195 and 199, further up trend can be seen once stock closes above its resistance zone. Close Watch.
- Stock currently coming down from 23.6% fibonacci retracement resistance zone this will favor bears as long as holds below.
- Stock also moving in down channel formation this indicates further price fall can be seen as long as moving in down channel pattern.
- Once stock closes and holds below 258.50 then stock will find next support around 246 levels as per 161.8% fibonacci retracement.
- Stock has formed head and shoulder formation and on the verge of bearish breakout.
- Stock also coming down from 38.2% fibonacci retracement resistance zone this will favor bears.
- Technical chart also indicates that its major trend indicator like "MACD" and "Stochastic Oscillator" is moving in -ve zone this indicates further price fall can be seen once stock closes and holds below 533.50.
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