Base metals trading in a very tight range but trend looks
weak on daily charts. Upper side seems limited in Base Metals and any sharp
rise will be selling opportunity but trade with levels only. Any reversal seems
will update via App.
Have a look on it!!
Copper
Support at 298 and Resistance at 306
Two consecutive closes below 298 will see sharp downside
move in it till 291---287 and then to 276 mark.
More and more panic will see only weekly close below 298
else it could test its resistance level of 306 again
Further upside rally seen only close above 306 mark
Trade with levels only
Nickel
Support at 575 and Resistance at 600
Two consecutive closes below 575 will take to 555---542 and
then to 529 mark. More and more panic will see only weekly close below 529
level only
Fresh buying can initiate only close above 600 mark
Trade with levels only
Zinc
Not able to breach its resistance level of 104.50 and
slipped again
Now what to expect???
Two consecutive closes below 101.50 will take to
99.00---96.00 mark in days to come
Fresh buying can initiate only weekly close above 104.50
mark
Trade with levels only
Aluminium
Support at 98.00 and Resistance at 102.00
Looks weak and could test its support level of 98.00. Three
consecutive closes + weekly close below 98.00 will see free fall in Aluminium
Fresh buying can initiate only close above 102.00 mark
Trade with levels only.
More will be update soon during market hours only on Android
App.
