Commodities Outlook by PINC Research

Commodities Outlook by PINC ResearchAluminium appears to be moving in a broad trading range of $2400-$2700. Its near term outlook appear weak and it can target the lower end of the trading range.

Zinc’s trend has weakened below $2425. Its short term structure looks subdued for now. A decline till $2250 or lower is possible.

Copper weakened considerably below $9600. However, Its medium term structure still remains positive as long as it sustains above $9100.

Gold has moved in line with our anticipated view. Its positive bias remains intact in the short term.

Silver had a sharp reversal after testing the high of $42. Failure to breach $42.00 can lead to further declines in the coming week. The immediate outlook remains choppy.

Crude Oil’s downward momentum has accelerated below the important support of $90. Its outlook remains weak and further declines can be expected in the coming week. We can expect a target of $80.00 in the coming weeks.