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Wednesday, August 9, 2017

Update on Base Metals (09th Aug’2017)




Copper 





Support at 406 and resistance is 415.

Break and sustain with volume above 415 will see sharp upside rally till 421---424+++ mark in near term else could touch its support level of 406.

Fresh selling can be initiated below 406.


Nickel 



Support at 654 and resistance 688.

Looks positive. Break and sustain above 688 it can touch to 698—714—745++ mark in near term else, could touch its support level of 654 mark.

Fresh selling can be initiated below 654.

Trade with levels only.


Lead 





Support at 151 and Resistance at 153.

Break and sustain above 153 with volume will take it to 156.50---159.00++ mark else it could touch its support level of 151.00 again.

Trade with levels only. Any reversal seems will update



Zinc






Hurdle at 187.00. Break and close above 187.00 will see more upside rally till 190---193.50+++ mark in days to come.

Support intact at 184.50---182.00

Fresh selling can be initiated below 182.00


Aluminium




Support at 127.50---125.00 and resistance is 130.50

Looks positive. Break and close above 130.50 with volume will take it to 134.50---137.00 mark in near term else it could touch its support level of 127.50---125.00 again

Fresh selling can be initiated only below 125.

Trade with levels only. Any reversal seems will update










 More will update soon!!