Tuesday, 19 January 2016

Daily Base Metals Market Trading News

MCX Copper chart. It suggests that prices are still in downtrend channel. However, recent positive development in RSI suggests potential for reversal in the prices. Hence, in this week prices are expected to hold above immediate support of 291.50 levels. On the upside, immediate resistance is located at 302.50 and further at 305.50 levels.

MCX Lead. After taking support at its previous low, prices tried to recover on the upside. On the upside, break above 110.70 may extend its gain upto 113.90- 116.30 levels. However, fall below 106.70 will open the door towards 102.50 levels.

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