Copper: Copper prices traded positive yesterday, but closed just below the 7 and 21 DMA (244). The –DI have crossed the +DI, which indicate negative in short run. Thus even if the prices move positive, immediate resistance is seen at 244 and next at the resistance line at 247.5 levels. Therefore one can sell copper at higher levels of 246-47, targeting 240.

Nickel turned negative yesterday and closed below the 7 DMA. The prices are continuously moving down after making the high of 794.89. Negative divergence is seen in RSI and MACD. Thus Nickel prices are expected to reverse in short run. For the day, below 768 prices can fall to 745 (21 DMA).

Aluminium prices remain positive yesterday but closed below the 7 and 21 DMA. The MACD has given a cross-over on downside, which indicates that prices may reverse the trend in near term. Breaching the trend line at 76 can trigger downside movement in Aluminium prices, till next support at 73.5.