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Monday, October 10, 2016

Update on Base Metal 10 Oct 2016




Copper




Support at 319 and Resistance at 324

Looks positive and could test its resistance level of 324. Two consecutive closes above 324 will take to 329---332+ mark in days to come else it could test its support level of 319 again

Further downside panic will see only close below 319

Trade with levels only





Nickel




Support at 650 and Resistance at 720

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



Zinc



Support at 154 and Resistance at 156.50

Close above 156.50 will take to 159---160.50+ mark in days to come else it could test its support level of 154 again

Further downside panic will see only close below 154 mark

Trade with levels only



Lead



Too looks positive and could test 143---144.50+ mark in days to come

Support and stop loss below 137.00





Aluminium



Support at 110.50 and Resistance at 112

Close above 112 will take to 113.50---115+ mark in days to come else it could test its support level of 110.50 again

Further downside panic will see only close below 110.50

Trade with levels only
















More will update soon...