Looking at last two candles of the most widely traded base metals Like copper, Nickel , Zinc, lead, aluminum all Are Showing Some or the other type of Candlestick reversal patterns indicating that if the Following week if Prices fail to Cross the recent high and weaken further indicating, Short term top is getting Formed and prices could Correct get into a Sideways move or a correction which could be a Little sharper More than 10 % as the prices had Move up a lot in Recent weeks
Copper MCX : a Close Below 301 Would open Downside targets of 292--271 with immediate Reistance at 311
Nickel MCX : Resistance at 962--980 , Supports at 928--880--740
Zinc MCX : Immediate Support Seen at 85.5 Below Which could head for 81 , on upside 89.25 & 01 are Strong resistance
Lead MCX : Lead below 88 Could re test the support at 83.5 and on upside has resistance at 89-90.4--91.95-92
Hey,
ReplyDeleteVery nice write-up and uptodate charts...
Suchita
thanks For Same , Do Read Up regularly For all commodities Update ...
ReplyDeletecopper sold @ 290 what tgt should I kepp or hold for 2 -3 days???
ReplyDeleteU shorted Almost at lower End of the targets mentioned and SL are Also Far , the RR is Not in your Favour , please Close the postion On Dip and Look to Sell again on Rise above 300 Zone .
ReplyDeleteSame time Please Add my yahoo id , So Can Solve queries same time ...
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