We clearly indicated to remain cautious in base metals at
upper levels. Look at Copper, Lead, Zinc, Aluminium and Nickel. All crashed
vertically. Just trade with levels only
Have a look on it!!
Copper
Told to sell around 360. Just made a low of 348.75 and now
trading around 349.50
Now what to expect???
Two consecutive closes below 355.50 will see free fall in
Copper till 343---338 mark
On rise sell it!! Stop loss above 358 on closing basis
Nickel
Told to sell below 655 with stop loss of 670. It made a low
of 639 after our sell call and now trading around 645
Now what to expect???
Close below 639 will take to 625---610 and then to ???
Revise stop loss of 655
Zinc
Too crashed vertically and made a low of 107.00 mark. We
continuously recommended selling below 120 and then to 117 mark
Now what to expect???
Support at 107---105.50 and Resistance at 110
Close below 107 will take to 106.20---105.50 mark. Three
consecutive closes + weekly close below 105.50 will see free fall in Zinc
Fresh buying can initiate only weekly close above 110 mark
Lead
Too crashed and made a low of 109.30. We recommended selling
around 115 mark
Now what to expect???
Close below 110 will take to 108---107 mark. Three
consecutive closes + weekly close below 107 will see free fall in Lead
Immediate hurdle at 112 and major hurdle at 116
Aluminium
Support at 105.00 and Resistance at 108---110
Two consecutive closes below 105.00 will take to
102---100.50 and then to 99 mark in days to come else it could test its
resistance level of 108---110 again
Further upside rally seen only weekly close above 110 mark
Trade with levels only.
More will be update soon!!
