Thursday, 10 March 2016

Base Metals News for Today

Copper:
Copper prices witnessed a sharp correction from its intraday highs at 342.10 levels yesterday. The counter though managed to hold on to its support around 331 areas. The counter can test its immediate resistance around 337.50 areas. Further upside is likely only if prices breakout above this level. A daily close below 331 will trigger a correction towards 326/325 zones.

Zinc:
Zinc prices have managed to bounce from its lows at 118.35 levels. The counter can test its resistance around 122.80-123 zones. The counter is likely to face resistance as prices approach higher levels. A daily close below 118 will trigger a correction towards 113 levels. Until then we expect prices to trade in a range between 124.50 118 zones.

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