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Friday, November 6, 2015

Update on Base metals 06 Nov 2015





Panic continuessssssss.... Still not able to mint money ???


Perfect level helps to mint money... Nothing else.





Copper 



Yesterday... we clearly indicated that Copper has support at 332. Crashed and made a low of 328.65

Close below 332 will take to 327---324 mark. Three consecutive closes + weekly close below 324 will see free fall in Copper else it could test its resistance level of 334---339 again

Traders can trade with levels only







Nickel





Support at 635 and Resistance at 655

Close below 635 will take to 620---610 and then to 570 mark in days to come else it could test its resistance level of 655 again

Traders holding short as per our level can revise stop loss above 655 on closing basis.







Lead



Told to sell Lead around 109.80---110. Just made a low of 108.15

Now what to expect???

Still looks weak and could test its support level of 107.50. Close below 107.50 will see further panic till 106.00---105.00 mark in days to come

Revise stop loss above 110.00 on closing basis







Zinc




Panic continues and made a low of 108.20 and now trading around 108.25

Now what to expect???

Support at 107.50 and Resistance at 110

Three consecutive closes + weekly close below 107.50 will see free fall in Zinc around 104---102.50 mark in days to come else it could test its resistance level of 110 again

Traders can trade with levels only






Aluminium



Support at 98.00 and Resistance at 99.50

Two consecutive closes below 98.00 will take to 96.50---95.00 mark in days to come else it could test its resistance level of 99.50 again


Be cautious at upper levels... Anything seems will update





More will be update soon!!