Tuesday, 20 January 2015

Energy News for Today

Copper prices have now pulled back towards its resistance zone. Prices shouldn’t trade or close above 364.50 to maintain negative outlook. Intraday weakness from higher levels around 360-361 can be sold into. The counter will trade under pressure once prices start trading below 355 levels.

Zinc prices have resistance on the upside around 130.20-130.60 levels. Fresh selling can be seen at higher levels if prices don’t sustain at higher levels. A close below 129 levels today will be a negative sign for coming sessions.

Nickel prices continue to face resistance at higher levels around 910-912 levels. A break out above 912 will see a move towards 930 in the counter. Failure to do so, will prices correcting back towards 890.

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