Commodities Outlook by PINC Research

Commodities Outlook by PINC ResearchAluminium - We had stated that the positive trend of Aluminium will be dented below $2500. It made a low of $2450 last week and the structure remains weak. Further downsides can be expected only below $2450.

Zinc - The pull back rally in Zinc remained sideways with a positive bias last week. The overall trend however remains weak and a move below $2225 can trigger more selling.

Copper - Copper made a smart and swift recovery from the lows of $9000. It may see continuation of its upward strength above $9600 from where it can reach higher levels.

Gold - Gold made a pull back after testing our support level of $1390 last week. The coming week might witness a stiff resistance at $1430. The zone of $1390-$1370 may continue to act as a good support zone.

Silver - As per our projected view, Silver continues to exhibit weakness temporarily. It may continue with its sideways move with a negative bias in the coming week as well, post which its upward trajectory is likely to resume.

Crude oil - All our predicted downside targets for crude oil were achieved last week. The price move in the last few days suggest that a trend reversal could have happened above $102. Continuing to stay past $102 can take it closer to $107 or higher.