Tuesday, 29 December 2015

Daily Commodity Market Base Metals Report

Lead can bounce higher until prices hold on above 113.50 on a closing basis. Momentum above 115 will push the counter higher towards 116.65 levels. A daily close above this level will see prices rally towards major resistance at 118.20. A decisive break down below 113.50 will see prices correct towards 112.

Nickel will trade weak until prices trade below 575 levels. Counter can slide lower towards 559/550 levels. Buying support can be seen at lower levels as prices approach 550 levels on the downside. Rallies towards 570—575 zones can be sold into by traders.

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