Friday, 5 February 2016

Commodity Trading Tips on Base Metals

Daily Mcx Commodity Tips Only at

A decisive breakdown below 123.30 will see Lead prices correct towards 122.60—122 zones. The counter has immediate resistance around 125 above which prices will rally towards 126.50—127 zones. We don’t expect prices to sustain at higher levels and the counter can witness a sharp fall from higher levels. Traders must avoid going long at higher levels.

The intraday view for Nickel will stay positive until prices hold on above 582. Momentum above 590 will see prices rally towards resistance zones between 595.50—600 zones. Any major upside is likely only on a daily close above 600 levels. Until then counter will trade in a broad range between 570—600 levels.

Aluminium prices have rallied back towards its resistance at 105 levels. Failure to trade above this level will trigger a sharp correction towards 103— 102.50 levels. Momentum above 105 will push the counter higher towards 106.30/107 levels. The view for the counter will stay positive until prices trade above 102 on a daily closing basis.

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