Tuesday, 1 December 2015

Commodity Market News for Base Metals

A decisive breakdown below 307 will see Feb. copper prices move lower towards 302.50/300 levels. The outlook for the counter will remain negative until prices stay below 315.50. A decisive breakout above this resistance will push prices higher towards 318.65/322.50 levels. Immediate support is seen around 300 levels.

Zinc can bounce higher until prices hold on above 103.45 levels. Prices can rebound towards 104.85 and if the momentum persists then the counter can test resistance between 105.30—105.50 levels. A break below 103.45 will see prices move lower towards 102.60/101.90 levels.

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