Base Metals Trading Tips and Commodity Market Update: Nirmal Bang
Submitted by Shilpa Mahapatre on Mon, 07/27/2009 - 20:13.
Copper: Copper prices are trading range bound resisting the 269 levels on the upside. The RSI and ADX still indicate uptrend in the counter. Thus breaching 269 levels, prices can move higher till 275 levels.
Nickel prices have breached the 800 levels and closed above the same, which indicate strength in the counter. The RSI is rising which indicate rising buying interest in the counter. Prices can inch up higher till 822 levels provide prices maintain above 800 levels.
Aluminium prices have rallied sharply upwards after a breaching the 83.65 levels. The prices are in a bull trend. Thus one can buy at every dip above 83.65, targeting 89 in the near term.
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