Base Metals Trading Tips and Commodity Market Update: Nirmal Bang

copperCopper: The Copper prices are trading range bound with no cues on the trend. The RSI is inching upwards from the 29 levels, breaching the trend line, which is bit positive for the counter. However prices lay below the resistance line, thus one should enter in the counter on break-out either buy above 243.5 or Sell below 238.

Nickel prices traded positive yesterday and close higher at 724.3. Prices are taking support at the 713 levels. The RSI is flatting at the bottom capping the further downside. Prices are thus expected to remain positive above 711 for the day, targeting 734 on the upside.

Aluminium prices remained downside e for the day and finally closed below 76 after a long time. But the prices continued to take support on the 75.5 levels on the downside. The RSI is continuously dropping down, indicating losing interest in the counter. Thus breaching 75.5 on downside can trigger downside till 74.5 and next 73 for the day.