Thursday, 10 December 2015

Base Metals News on Commodity Market

Copper prices managed to hold on to its support levels around 306 yesterday. Further upside in the counter is likely only if prices breakout above 315 levels. Counter can advance towards 317.50/319 levels in that case. A decisive break down below 310 though will see prices correct towards 306/304.50 levels again.

Lead prices are currently approaching resistance at 114.60 levels. If the momentum persists then prices can advance further towards 115.65/116.25 levels. Intraday outlook for the counter will turn negative only once prices break below 113.40 levels decisively. Weakness at resistance levels mentioned above can be used by traders to go short. A daily close below 113.40 will see prices move lower towards 111.80 levels.
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