Wednesday, 27 August 2014

Commodities Market News for Base Metals

We had a bullish proposition on aluminium, zinc and partially on lead yesterday however, Al and Zn has reaped profit on the trade and this morning the duo are trading flat. We believe the same trend may be continued today and we recommend  buying them from lower levels. We talk about rest three, copper is somehow failing to trade higher and likely that some more price correction may be noticed on today’s trading session. 

We have no such clues for copper to trade down and look like it’s the mere technical resistance that is weighing on the prices. For today we might expect the counter to make some more bearish correction in the prices. Lastly from nickel front, we saw a marginal rise last day as others also moved up but we do not claim any fundamental factors would have driven the prices higher. This morning the same is seen trading marginally lower and we continue to trade a range bound call for the counter on today’s trade.
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