Wednesday, 11 March 2015

Base Metal Trading Report for Today

Copper fell on Tuesday as the dollar hit multi-year highs against the euro and yen and as data showed increased factory sector deflation in top copper consumer China.

Nickel has reversed the uptrend from 61.8% Fibonacci level of 920 and ended in a negative zone down by 2.35% on d-o-d basis. This signifies that the temporary top has formed and intact down trend towards 875 & 863 levels. However, upside resistance remains at 898 levels.
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