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Thursday, October 8, 2015

Update on Base metals 08 Oct 2015




Copper




Copper has support at 337---334 and Resistance at 345

Two consecutive closes above 345 will take to 351---355+ mark in days to come

Fresh selling can initiate only close below 334 mark

Trade with levels only





Zinc




Took exact support level of 107.50 and bounced back sharply and now trading around 111.60. We recommended buying above 110 mark

Now what to expect???

Two consecutive closes above 110 will take to 112---113.50+ mark in days to come

Fresh selling can initiate only close below 107.50 mark






Lead




Support at 108 and Resistance at 109.20

Decisive break and sustain above 109.20 will take to 111---112.50+ mark in days to come else it could test its support level of 108 again

Close below 108 will take to 106.50---105.00 mark in days to come

Trade with levels only



 

Aluminium





Support at 100.20 and Resistance at 101.80

Close above 101.80 will take to 103---104.50+ mark in days to come else it could test its support level of 100.20 and then to 99.80---99.40 again

Further panic will see only weekly close below 100.20 mark

Trade with levels only






Nickel





Support at 640 and Resistance at 660

Two consecutive closes above 660 will take to 680---690 and then to 705+ mark in days to come

Fresh selling can initiate only close below 640 mark

Trade with levels only





More will be update soon!!