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Wednesday, February 24, 2016

Update on Base metals 24 Feb 2016





Copper




Not able to breach its resistance level of 320.50 and crashed vertically to 313.35. We recommended to sell below 317 mark but a gap down opening seen in today's trading session


Now what to expect???


Close has crucial support at 312---308 and resistance at 320---324

We will expect range bound trading in Copper

Trade with levels only







Zinc





Told to sell below 120 mark. It crashed and made a low of 117.55. Booked part profit


Now what to expect???


Close below 117 will see further downside panic till 114.50---112 mark in days to come


Hurdle intact at 120---123


Traders can trade with levels only and wait for confirmation... Anything seems will update via App.










Aluminium




Told to sell below 107.50. It made a low of 106.20 and bounced back


Close below 106.20 will see further downside panic till 105.50---104 mark in days to come


Hurdle intact at 108---109.50














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