Wednesday, 10 February 2016

Commodity Trading Tips on Base Metals

Copper:
The outlook on copper will stay positive until prices trade above 314 on a daily closing basis. Until then intraday dips will find support between 315.50—314.50 zones. Momentum above 320 will see prices test immediate resistance around 322 levels. A daily close above 322 will open upside targets of 327.80—330 zones for the counter.

Nickel:
Failure to break below 574.90 will see Nickel prices bounce towards 586.50/590 areas again. A decisive breakdown below 574 will see prices slip towards 570—567 zones. A daily close below 570 will be negative for the counter. Any major upside is likely only above 600. Until then 570 to 600 will be the broad trading range for the counter.

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