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Monday, August 24, 2015

Update on Base metals 24 Aug 2015



Copper



Support at 326 and Resistance at 334---340


Close below 326 will take to 318---313 mark in days to come else it could test its resistance level of 334---340 again

Further upside rally seen only close above 340 mark

Trade with levels only




Nickel



Told to sell Nickel around 670. Crashed vertically and made a low of 647.40. 


Still looks weak and could test its support level of 645 and then to 630---620 and then to 605 mark in days to come


Already booked part profit and now revise stop loss at cost to cost




Zinc




Two consecutive closes below 116 will take to 112---110 and then to 107 mark in days to come

On rise sell it!! Stop loss 119




Aluminium




Support at 99.50 and Resistance at 102---103


Two consecutive closes below 99.50 will take to 95---93 mark in days to come else it could test its resistance level of 102---103 again


Further upside rally seen only close above 103 mark


Trade with levels only.




More will be update soon!!