Base Metals Trading Strategy and Commodity Market Update: Nirmal Bang

metalCopper: Copper is in a bullish trend, giving higher highs in every session and trading above all Moving Averages. The RSI and ADX continue to remain bullish; however Investors need to remain cautious with RSI entering the overbought territory. One can remain long above 277 levels, targeting 300 in near term.

Nickel too is very bullish with bullish indication from ADX, RSI entering overbought Zone. Profit Booking is expected at this levels, however Prices looks bullish above 855 levels. Therefore one can buy above 855 levels.

Aluminium prices are also trading bullish 90 levels, with RSI above 80 levels. The ADX still continue to look bullish. Investor need to remain caution as RSI have entered the overbought Zone. Thus one can hold long only above 90 levels.