Base Metals Trading Tips and Commodity Market Update: Nirmal Bang
Copper: We have seen very good breakout in the counter prices positive RSI and MA with trending ADX also indicate the counter have more upside in the near term. We will be seeing the counter to park around 265-269 levels in the near term. Buy on dips till 253-255 can be a very good buy for the target of 265-269.
Nickel prices have given very good rally from 700 to 780 levels in the last week. Positive RSI and MA with +DI and ADX showing upward strength indicate the prices to trade higher levels as long as holds above 750 levels in the near term. We are expecting the counter to test 810-830 in the short run.
Aluminium prices have given very good rally in the last week. Positive RSI and MA with and closing above 9DMA with +DI and ADX trending positive indicate the prices to remain positive in the short run. We are expecting the prices to test 85-88 in the short run as long as holding above 78.