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Thursday, February 1, 2018

Update on Base Metals 1st February 2018

Update on Base Metals 1st February 2018

     




Copper



Support at 445 and Resistance at 458.

If unable to breach its support level of 445 then it can touch its resistance level of 458.00 . Weekly close above 458 will see sharp upside rally towards 469—488 ++mark.

Fresh selling can be initiated only on close below 445 mark.

Trade with levels only.




Nickel



Support is 845 and Resistance is 880

Break and sustain above 880 will take it to 920—945+++ mark in days to come else could touch its support level of 845.

Fresh selling can be initiated only on close below 845 mark.

Trade with levels only.




Lead



Support seen at 167.00 and Resistance at 172.00.

Break and close above 172.00 will take it 177—180 and then to 185++ mark else could touch its support level of 167.00

Fresh selling can be initiated below 167.00

Trade with levels only. 



Zinc



Support 224.50 and Resistance at 228.50

Break and sustain above 228.50 will take it to 232.50—237.00 and then 241+++ mark else could touch its support level of 224.50.

Fresh selling can be initiated below 224.50


Aluminium



Support at 138.00 and resistance is 143.00

Looks weak on chart….if unable to breach its resistance level of 143, then we can expect downside panic till 138.00.

Break and close below 138 will take it to 132—128 mark in days to come.

Fresh buying can be initiated above 143.00

Trade with levels only.







More Will Update Soon!!