Wednesday, 2 December 2015

Commodity Market News for Base Metals

Copper prices need to trade above 312 levels to rebound towards 315.30/318.90 levels. Intraday support for the counter is seen around 307 levels. A break below this level will push prices lower towards 304.40/302 levels. Traders can look to sell into weakness at higher levels between 311—312 levels.

Zinc prices can slip lower towards its immediate support at 102 levels.Further downside is likely only if prices start to trade below 101.90 levels. The counter will correct towards 99.80/98.90 levels in that case. Resistance is seen between 104.9 —105.40 levels.

Lead prices can continue to rebound higher if prices hold on to support at 109.30 levels. Momentum above 110.30 will push prices higher towards next resistance areas placed at 111.50 levels. Sustenance below 109.30 will see prices weaken towards 108.60/108 levels.

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