Crude Oil in Formation of Broadening Triangle - Resistance @ 41.5

NYMEX Crude OIL April CMP: $39.10/bbl
Sell Crude Oil  @ CMP 39.10 | Stop @ 41.25 | Target @ 35.8—32.1—28.4

NYMEX Crude Oil chart shows Broadening Triangle Pattern, with Higher Top and Lower Bottom Formation.  Crude Oil price has risen from 26.04 since 11th Feb and is trading near the rising trend line at 40.10 . Crude oil price are showing sign of reversal after testing the resistance level of 39.63 (Point E). The contract is now quoting at $39.10/bbl.

The Height of the Triangle comes to 3.7 (39.63-35.93) and if prices falls to trades above the resistance level then prices may touch 35.8 — 36 area which is the falling trend line support. Prices could decline further if Crude Oil breaks this level.

Considering the breakdown from 35.8, the next lower level target comes to 32.1 (35.8-3.7) which is 100% of the height of the triangle. Further trading below 32.1, Crude Oil prices may drop further and test the level of 28.4 which is 200% of the height of the triangle.

However, if Crude Oil sustains above the resistance level of 40.50 then prices could rise further and test level of 43 and 47.

Bank Nifty forming A-B-C Pattern - Sell @ 17110 CMP

Sell Bank Nifty @ CMP 15710 Stop @ 16150 Target 13550 - 12010

MCX Aluminum Breakdown Below 101.5 Resistance at 107 target 84.5

MCX Aluminum Breakdown Below 101.5 Resistance at 107 target 84.5

Banknifty Breakout of Consolidation is required, Expected a Fall

Self Explained Chart

HDFC Bank Resistance @ Falling Trend line & stop advise at 1045

Details explained in chart

COMEX Gold Sell Below 1242$ Closing basis

COMEX Gold Sell Below 1242 Closing basis, Stop advise @ 1285 Target 1170 - 1098 - 1026

Copper Sell Below 333 On Closing basis, Resistance @ 347

Copper Sell Below 333 On Closing basis, Resistance @ 347 - Tgt 320 and below

MCX Copper: Sell Below 332 Rs/kg (CMP 334) | Stop @ 344 | Target @ 320 — 305 — 292 

MCX Copper Resistance seen at 347 level.

The MCX Copper April contract is quoting at Rs 334/Kg after crossing the resistance of 320 and tested the higher level of 344 recently. The above technical chart shows formation of A-B-C Pattern, where prices have retraced by 61.8% distance from Point A to Point B. In short term move it has completed a-b-c marked in red with upside move.
In the A-B-C pattern, Wave C retrace by 61.8% and if prices fails to cross the same resistance level of closing basis short pull back in prices can be expected. Copper started to fall from 368 (Point A) in September 2015 and tested the support level at 292 (Point B) in the beginning of January 2016, thereafter prices retraced by 61.8% of the fall from Point A to Point B. The red metal is facing resistance at 344 (Point C) and showing sign of reversal. Immediate support is seen at 142 and further trading below the same further fall is expected.
The difference between Point A and Point B comes to 76 points. Considering 50% of this difference from Point C, the downside target comes to 206. Thereafter, the next target could be 292, which is was the support taken at Point B. Further trading below 292 on weekly closing basis we may look at 268 level which is 100% expansion of the fall from Point C.
However, the trend could reverse if copper trades above the resistance level of 347 on closing basis. If Sustain above 347 then only prices may rise towards 355 — 365 levels.