Thursday, 26 November 2015

Daily News on Base Metals in Commodity Market

Copper prices could continue to trade lower. However, LME prices are oversold and could witness some short covering. Key support now is at 4430 and 4350. Key resistance is at 4540 and 4615. MCX Copper prices could trade weak, tracking weak overseas prices. Support is at 293.45. Resistance is at 300.00. However, MCX prices are oversold and could witness some short covering.

Nickel prices could continue to trade lower. However, LME prices are oversold and could witness some short covering. Support now is at 8127. Resistance is at 8510. MCX Nickel prices trade weak, tracking weak overseas prices. Support is at 540.00. Resistance is at 570.10. However, MCX prices are oversold and could witness some short covering.

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