Thursday, 31 December 2015

Daily Commodity Market Base Metals Report

The outlook for Copper will remain positive until prices stay above 312.50 levels. Traders can look to buy into corrective moves towards 314—313 zones. Momentum above 318.40 will push prices higher towards 321/321.65 levels. A daily close below 312 will be negative for the counter.

Zinc prices broke out of its multi-week trading range yesterday. We expect the counter to rally towards 106.60—107 areas. The counter is likely to face fresh selling as prices approach these areas. The outlook for the counter will remain positive until prices hold to support around 103 areas.
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