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Friday, August 19, 2016

Update on Base Metals 19 Aug 2016






Lead



Support at 125.00 and Resistance at 127.50


Close below 125.00 will take to 122---120.50 mark in days to come else it could test its resistance level of 127.50 again


Further upside rally will see only close above 127.50 but be cautious at upper level in lead


Anything seems will update via App











Zinc




Support at 152.50 and Resistance at 155.00


Close below 152.50 will take to 150---149. Further downside panic will see only close below 149 else it could test its resistance level of 155.00 again


Further upside rally will see only close above 155.00 mark


Trade with levels only









Aluminium




Almost achieved its upside target level of 114 (Made a high of 113.70) and slipped


Now what to expect???


Support at 112 and Resistance at 114


Close below 112 will take to 110---109 else it could test its resistance level of 114 again


Further upside rally will see only close above 114.00 mark


Trade with levels only










Copper





Support at 316 and Resistance at 325.50


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


Anything seems will update











Nickel





Support at 680 and Resistance at 700


Close below 680 will take to 674---669 and then to 650 mark else it could test its resistance level of 700 again


Further upside rally will see only close above 700 mark


Trade with levels only


















More will update soon!!