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Natural gas daily chart has formed an “Ascending Triangle” pattern. Over the last few sessions, we have seen some random movements, where the last one had traded higher and closed in the slight red. The market is currently expected to continue on the bearish momentum based on the current reversal action, once breaks below the current support holding near 730. The downside rally could be tested all the way through 725-720 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and turn bullish/sideways once again. Key resistance holds at 750.

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Copper Aug future 4hr chart has formed a "Rising wedge" pattern. There were few random movements within the channel in the last few sessions, while the market has traded lower and closed in the red for the last session. The market is expected to continue on bearish momentum based on the reversal price action, once the same break below the current key support holding near 659. The downside rally could be testing all the way up to 656-653 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might revise the trend to bullish/sideways mode. Key resistance holds at 669.

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MCX Crude Oil technical chart has taken the formation of a "Falling channel" pattern in the daily time frame. While few sessions have been in sideway rallies with some corrections. The last one has traded lower and yet closed in the slight green for the session. As per the technical aspects based on the current price action, the market is expected to continue on a bearish trend, once the same break below the current key support level holding near 6850. The downside rally could be testing all the way up to 6750-6690 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 7160.

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MCX Gold Oct futures technical chart has taken the formation of a “Bullish Pennant” pattern in the daily time frame. Following some sideways movements within the channel, the last session traded lower as expected and closed in the red. Based on the current price action, the market is expected to continue on bearish momentum once the same breaks below the key support level holding near 51400. The downside rally could possibly test up to 51100-50800 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 52000. A slide to 52300 is also a possibility if the price makes or breaks above the current resistance level.

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Bank nifty 4hr chart has formed a “Rising channel" pattern. Bank Nifty was trading higher as expected, only to close in the slight green. Technically, the analysis remains the same, and Market volatility will be still prevalent. The market is expected to open on a gap down to continue on bullish momentum, once the same break above the current resistance holding near 39500. The upside rally could be testing up to 39800-40100 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely retest the same and revise the trend to bearish/sideways mode once again. Crucial Support holds near 39100. A slide to 38800-38500 is also a possibility if the price makes or breaks below the current support level.

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Nifty daily chart has formed a "Descending broadening wedge" pattern (Broken Out). The Nifty was trading higher as expected, only to close in the slight green. Technically, the analysis remains the same, and market volatility will be still prevalent. The market is expected to open on a gap down, to continue on bullish momentum, once the same break above the current resistance level near 18000. The upside rally could be tested all the way up to 18150-18300 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the current support holds near 17800. A slide to 17650-17500 is also a possibility if the price makes or breaks below the current support level.

[enrichfinancialservices]

Natural gas daily chart has formed an “Ascending Triangle” pattern. Over the last few sessions, we have seen some random movements, where the last one had traded higher as expected and closed in the green. The market is currently expected to continue on the bullish momentum based on the current price action, once breaks above the current resistance holding near 740. The upside rally could be tested all the way through 745-750 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and turn bearish/sideways once again. Key support holds at 720.

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Copper Aug future 4hr chart has formed a "Rising wedge" pattern. There were few random movements within the channel in the last few sessions, while the market has traded lower on a gap down and closed in the red for the last session. The market is expected to continue on bearish momentum based on the reversal price action, once the same break below the current key support holding near 664. The downside rally could be testing all the way up to 661-658 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might revise the trend to bullish/sideways mode. Key resistance holds at 673.

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MCX Gold Oct futures technical chart has taken the formation of a “Rectangle Chart” pattern in the daily time frame. Following some sideways movements within the channel, the last session traded lower and closed in the red. Based on the current price action, the market is expected to continue on bearish momentum once the same breaks below the key support level holding near 51700. The downside rally could possibly test up to 51400-51100 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 52300. A slide to 52600 is also a possibility if the price makes or breaks above the current resistance level.

[enrichfinancialservices]

Bank nifty 4hr chart has formed a “Rising channel" pattern. Bank Nifty was trading higher as expected, only to close in the slight red. Technically, the analysis remains the same, and Market volatility will be still prevalent. The market is expected to open on a gap up to continue on bullish momentum, once the same break above the current resistance holding near 39400. The upside rally could be testing up to 39700-40000 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely retest the same and revise the trend to bearish/sideways mode once again. Crucial Support holds near 39000. A slide to 38700-38400 is also a possibility if the price makes or breaks below the current support level.

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Nifty 4hr chart has formed a "Rising Channel" pattern. The Nifty was trading higher as expected, only to close in the slight green. Technically, the analysis remains the same, and market volatility will be still prevalent. The market is expected to open on a gap up, to continue on bullish momentum, once the same break above the current resistance level near 17850. The upside rally could be tested all the way up to 18000-18150 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the current support holds near 17650. A slide to 17500-17350 is also a possibility if the price makes or breaks below the current support level.

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MCX Silver Sept futures technical chart has taken the formation of a "Falling wedge" pattern in the daily time frame. There have been a few sideways sessions along with slight corrections within the channel, where the last one has traded a little higher and yet closed in the red. The current market is expected to continue on a bearish trend based on the current price action, once breaks below the key support level holding near 58500. The downside rally could be extending all the way up to 57900-57300 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 59300. A slide to 59900-60500 is also a possibility if the price makes or breaks above the current resistance level.

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Natural gas daily chart has formed a “Double Top” pattern. Over the last few sessions, we have seen some random movements, where the last one had traded sideways and closed in the green. The market is currently expected to continue on the bullish momentum based on the current price action, once breaks above the current resistance holding near 625. The upside rally could be tested all the way through 630-635 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and turn bearish/sideways once again. Key support holds at 605.

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Copper Aug future daily chart has formed a "Descending broadening wedge" pattern. There were few random movements within the channel in the last few sessions, while the market has traded higher and yet closed in the slight red for the last session. The market is expected to continue on bearish momentum based on the reversal price action, once the same break below the current key support holding near 661. The downside rally could be testing all the way up to 658-655 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might revise the trend to bullish/sideways mode. Key resistance holds at 671.

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MCX Crude Oil technical chart has taken the formation of a "Falling channel" pattern in the daily time frame. While few sessions have been in sideway rallies with some corrections. The last one has traded higher and yet closed in the slight red for the session. As per the technical aspects based on the current price action, the market is expected to continue on a bearish trend, once the same break below the current key support level holding near 7200. The downside rally could be testing all the way up to 7100-7040 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 7400. A slide to 7460 is also a possibility if the price makes or break above the current resistance level.

[enrichfinancialservices]

MCX Gold Oct futures technical chart has taken the formation of a “Rectangle chart” pattern in the daily time frame. Following some sideways movements within the channel, the last session traded higher and closed in the green. Based on the current price action, the market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 52600. The upside rally could possibly test up to 52900-53200 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 52300. A slide to 52000-51700 is also a possibility if the price makes or breaks below the current support level.

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Bank nifty 4hr chart has formed a “Rising channel" pattern. Bank Nifty was trading higher, only to close in the green. Technically, the analysis remains the same, and Market volatility will be still prevalent. The market is expected to open on a gap up to continue on bullish momentum, once the same break above the current resistance holding near 38400. The upside rally could be testing up to 38700-39000 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely retest the same and revise the trend to bearish/sideways mode once again. Crucial Support holds near 37800. A slide to 37500 is also a possibility if the price makes or breaks below the current support level.