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Wednesday, September 23, 2015

Update on Base metals and Energy 23 Sep 2015





Copper




Told to sell Copper around 349. It crashed and made a low of 337.90 and now trading around 341.50


Now what to expect???


Support at 337.80 and Resistance at 343

Decisive break and sustain above 343 will take to 348---351. Further upside rally seen only close above 351 mark

Else it could test its support again


Fresh selling can initiate only close below 337.80 mark

Trade with levels only







Crude Oil




Support at 3050---3000 and Resistance at 3180

Above 3100... it could test 3150---3180. Three consecutive closes + weekly close above 3180 will take to ???


Fresh selling can initiate only close below 3000 mark



Trade with levels only





More will update soon!!