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Wednesday, June 15, 2016

Update on Base Metal and Energy 15 June 2016






Copper





Took U-turn sharply. We revised stop loss of 308 and now trading around 311.50


Now what to expect???


Above 310... we will see further upside rally till 315---318 mark. 318---321 act as major hurdle

Immediate support seen at 307







Nickel





Clearly indicated to buy and accumulate Nickel in panic as a positional call. 

Three consecutive closes + weekly close above 610 will see sharp upside rally in it

Immediate support at 590







Crude Oil



 Close below 3230 will take to 3180---3150 and then to 3080 mark. Double top figure target looks 3025. 

On rise sell it!! Stop loss 3310








Natural Gas


Support at 170 and Resistance at 176

Weekly close above 176 will take to 183---188+ mark in days to come else it could test its support level of 170 again

Further downside panic will see only close below 170 mark

Trade with levels only















More will update soon!!