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Monday, June 5, 2017

Update on Base Metals






Copper 





Support at 360 and resistance is 367.

Looks weak and close below 360 will take it to 352---345 mark in days to come else could touch its resistance level of 367.

Fresh buying can be initiated above 367 mark.



Nickel 




Support at 562 and resistance 590

Close below 562 will see more downside panic till 540---525 mark else could test its resistance level of 590

Fresh buying can be initiated above 590.

Trade with levels only.



Lead 






Support at 133 and Resistance at 137.20

Trend looks weak and could test it's support level of 133. Two consecutive closes below 133 will see more downside fall in it.

Fresh buying can be initiated only close above 137.20


Zinc





As we clearly indicated that below 165 panic remain continue till 162---159 mark. Price tested the low of 159.30.

Now what to expect??? 

Close below 159.00 will see further downside fall in it. 

Hurdle intact at 164



Aluminium



Support at 122.80 and resistance is 125.20

Close below 122.80 will take it to 120.50---119.00 mark else could touch its resistance level of 125.20 again.

Trade with levels only. Anything seems will update














More will update soon!!