[Premium] Three Charts For The Week Ahead

Last week we focused on Shanghai Composite, USDINR & Nickel.

Let's move into this week's topics.

1.  The first chart we're looking at is Lead. We've been keeping an eye on the commodities section for a while now and looks like we finally got our breakout!

There's a strong bullish candlestick breakout on the chart as Lead moves past a level that has been acting as a fortress of sorts for five years now. This is a big base breakout and we're interested to see the move going forward.

We are bullish above the level of 170, with a target near 210.

Click on chart to enlarge view.

2. The second chart we're tracking is another commodity. Zinc has joined the breakout bandwagon, although the breakout isn't as emphatic as the one we've seen in Nickel.

Another big base here of close to four years. The price has made an attempt to move above 231 on three occasions in the past. Fourth time's a charm? We'll have to see about that.

We are bullish above 231 for a target near 285.

3. The third chart we're looking at is Nifty Small Cap 100. We've been keeping track of 7,850 and the Small-cap index has finally managed to close above it. With 7,850 taken out, the next level to track is 9,650. We're going to see if this breakout sustains going forward.

In our view, these charts will help set the tone for this week and provide us information on how we should approach the market in the coming weeks.

Also, make sure to check out our other weekly post, "Trade Of The Week."

Thanks for reading and please let us know if you have any questions.

Allstarcharts Team