Monday, 21 December 2015

Mcx Commodity Market Base Metals News

Copper prices have managed to rebound and can now test its resistance zones between 312.80—314 zones. Selling can be see as prices approach these zones. Intraday view will remain positive until prices hold on above 307.40 levels. A break below this support will push prices lower towards 302.75 levels.

Nickel prices have bounced from the lower end of its trading range at 570 levels. Prices can test its resistance at 594 levels going forward. A daily close above 594 will open upside targets of 603.50/608 levels for the counter. The outlook for the counter will remain positive until prices hold on to support at 570 on a closing basis.
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