Tuesday, 9 February 2016

Commodity Trading Tips on Base Metals

Accurate Commodity Market Tips Only at

MCX Copper. It suggests that prices have continued its upside rally for the consecutive third week. It has immediate resistance at 321.70 levels. Negative reversal on RSI suggests some correction on the upside. Hence, in the near term, prices are expected to trade on bearish note with potential fall upto 305.50 and 302 levels.

Nickel. After trading for more than 15 days in a sideways zone, prices lost its momentum on Friday. It lost more than 4 percent on last Friday and 5.64 percent in a single week. Technically, prices have immediate support at 542.50 levels. If it breaks then fall can be seen till 515 levels. On the flip side, immediate resistance is located at 575-588 and further at 599.50 levels. Bias is expected to trade on bearish mode only.

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