Today we will expect high volatility in base metals as all eye on US Presidential Election. We have seen negative diversion on charts and looks like that base metal may fall in coming weeks. Upper side seems limited in base metals. So be cautious while trading!!
Copper
Support at 337 and Resistance at 343---347
Close below 337 will take to 332---328 else it could test its resistance level of 343---347 again
Traders remain cautious at upper levels... Anything seems will update
Nickel
Yesterday we recommended buying around 722---720. It flared and made a high of 757.80 and slipped
Now what to expect???
Support at 720 and Resistance at 760
Today we will expect range bound trading in Nickel.... Today's high is very crucial. So traders have to wait for fresh entry. Those are holding remaining lots long position can revise stop loss at cost to cost
Zinc
Support at 163---160.50 and Resistance at 167
Now traders remain cautious at upper level in Zinc as we have seen negative diversion on daily charts.
Close below 163.00 will take to 161.20---160.50. Three consecutive closes + weekly close below 160.50 will see free fall in it
Hurdle at 167.00
Traders remain cautious at upper levels in Zinc. Anything seems will update
Lead
Hurdle at 144 and Support at 138
Close below 138 will see sharp downside fall till 132---128 mark in days to come else it could test its resistance level of 144 again
Traders remain cautious at upper levels as negative diversion reflect sharp downside fall in lead
So don't jump to buy at all
Aluminium
Support at 113.00 and Resistance at 116.50
Close below 113 will take to 110---108.50 mark in days to come else it could test its resistance level of 116.50 again
Further upside rally will see only close above 116.50
Trade with levels only
