Base Metals Trading Strategy and Commodity Market Update: Nirmal Bang
Copper: Copper prices remained negative losing off the gains in the earlier session. However the trend still looks intact with rising RSI and Positive indication from ADX. Prices are seen taking support at 258 levels, breaching 258 can push prices lower to 253 levels.
Nickel prices also turned negative yesterday breaching the earlier sessions low. However prices took support at the trend line. Today breaching the 758 levels can push prices lower to 745 levels.
Aluminium prices continued even yesterday to take support at the 81.1 levels. The prices could not breach the earlier high of 83.3 and turned negative from 83.2 in the later session yesterday. Today prices breaching the support at 81 can fall back to 79 levels.