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Monday, February 15, 2016

Update on Base metals and Energy 15 Feb 2016





Copper



Support at 306 and Resistance at 315


Close above 315 will see further upside rally till 319---321---324. Further upside rally seen only weekly close above 324 mark else it could test its support level of 306 again

Further downside panic will see only close below 306 mark


Trade with levels only.







Lead





Support at 125 and Resistance at 127---128.50

Two consecutive closes below 125 will take to 122---120.50 mark in days to come else it could test its resistance level of 127---128.50 again

Further upside rally will see only close above 128.50 mark


Trade with levels only.






Zinc




Support at 115.50 and Resistance at 118.50

 Close below 115.50 will take to 112---110.50 mark in days to come else it could test its resistance level of 118.50 again

Further upside rally seen only close above 118.50 mark

Trade with levels only.








Crude Oil




Told to buy around 2000. Just made a high of 2054 and now trading around 2050


Now what to expect???


Close above 2070 will see further upside rally till 2100---2120 and then to 2200+ mark in days to come.


Support intact at 1980


Fresh selling can initiate only close below 1980 mark. Close below 1980 will see further downside panic till 1930---1880 mark


Trade with levels only.










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