Update on Base Metals (9th Feb 2018)
Copper
Support at 435 and Resistance at 448.
Looks week on chart. Break and sustain below 435 will take it to 429—422 and then 410 mark.
Fresh buying can be initiated only on close above 448 mark.
Trade with levels only.
Nickel
Support is 820 and Resistance is 855
If prices unable to break and close below 820 then dead cat bounce expected towards 855. Buy and accumulate more here. Break and close above 855 will take it towards 872—890 and then 920+ mark.
Fresh selling can be initiated only on close below 820 mark.
Trade with levels only.
Lead
Support seen at 160 and Resistance at 164.
Break and close below 160 will take it 157.2—154 and then to 151.5 mark else could touch its resistance level of 164.00
Fresh buying can be initiated on close above 164.00
Trade with levels only.
Zinc
Support 218 and Resistance at 223
Break and sustain below 218 will take it to 214—211.5 and then 208 mark else could touch its resistance level of 223.
Fresh buying can be initiated above 223 mark.
Aluminium
Support at 138.00 and resistance is 142.00
Looks weak on chart. Break and close below 138 will take it to 134—132.5 and then 128 mark in days to come.
Fresh buying can be initiated above 142.00
Trade with levels only.
More Will Update Soon!!
