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Tuesday, August 18, 2015

Base metals & Energy Update 18 Aug 2015






Copper



Support at 333 and resistance at 339---344


Close below 333 will take to 327---324 and then to 318 mark in days to come else it could test its resistance level of 339---344 again


Further upside rally seen only close above 344 mark


Trade with levels only





Nickel



Support at 670 and Resistance at 710---725


Looks weak and could test its support level of 670. Two consecutive closes + weekly close below 670 will see free fall in Nickel else it could test its resistance level of 710---725 again


Further upside rally seen only weekly close above 725 mark


Trade with levels only




Lead



Support at 113 and Resistance at 115


Close below 113 will take to 110.50---109 and then to 107.00 mark in days to come


Fresh buying can initiate only weekly close above 115 mark


Trade with levels only





Crude oil



Support at 2670---2640 and resistance at 2800---2860


Looks weak and could test its support. Further panic seen only weekly close below 2670 mark else it could test its resistance level of 2800---2860 mark


Just trade with levels only




Natural Gas



Support at 176 and Resistance at 185---193


Two consecutive closes below 176 will take to 168---163 and then to 155 mark in days to come else it could test its resistance level of 185 and then to 189---193 again


Trade with levels only


More will be update soon!!