Copper
As expected, copper crashed and made a low of 294.55. We
recommended selling below 308 mark
Now what to expect???
Support at 293---289 and Resistance at 306
Still looks weak and could test its support. Two consecutive
closes below 289 will see further downside panic till 281---276 mark. Further
downside panic till see only weekly close below 270 mark
Revise stop loss above 306 on closing basis. Others can trade
with levels only.
Nickel
Close below 551 will take to 542---529. Three consecutive
closes + weekly close below 529 will see sharp downside panic till 506---486
mark in days to come
Else it could test its resistance level of 585 mark
Further upside rally seen only weekly close above 585 level
Trade with levels only
Lead
As expected... Lead made a fresh low of 107.60. Now
107---105.50 act as major support in Lead
Be cautious at lower levels as from now onward we will expect
range bound trading in Lead with high volatility
So trade safely with levels only.
Zinc
Close below 98.50 will take to 97.00---96.00 mark in days to
come
Else it could test its resistance level of 101---102.50 mark
Trade with levels only
Aluminium
Not able to breach its support level of 97.50 and bounced
back sharply to 100.25 and now trading around 99.20
Now what to expect???
Support at 98.00 and Resistance at 100.50
Either side break or close with volume will decide further.
Till then traders can trade in a range with strict stop loss and wait for confirmation.
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