Tuesday, 5 January 2016

Commodity Market Base Metals Updates

Copper:
Copper prices are trading down with a cut of 2.3% currently. The counter should test its immediate support around 307.50 levels. Sustenance below this support will push prices lower towards 305.45/302.75 levels. The counter needs to trade above 310 to witness a bounce towards resistance at 312 areas.

Zinc:
Zinc can bounce higher towards 105.50/106.40 levels until prices hold on above 103 levels. A daily close below 103 will push prices lower towards 101.40/100.35 areas. Sustenance above 106.50 will push prices higher towards recent highs at 108.40.

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