Base Metals Trading Tips and Commodity Market Update: Nirmal Bang

copperCopper prices finally breached the resistance on the upside at 242-43 levels and close higher at 246.95 yesterday. The prices can move north wards to 252 from here after breaching the resistance. The rising +DI and ADX along with positive RSI affirm the uptrend in copper. Thus one can buy copper at every dip, targeting 252 on the upside.

Nickel prices also have breached the resistance on the upside at 490-92 levels and move up closing higher at 714.2. The rising ADX with rising +DI indicate uptrend in Nickel. The RSI as well have crossed the MA on upside. Thus Nickel can move up targeting 728-730 during the day. One can buy Nickel at every dip targeting 740 in near term.

Aluminium prices moved up even yesterday and closed higher at 77.9. The ADX is positive with rising +DI. Also the RSI have breached the earlier resistance. Thus, indicating uptrend in Aluminum. However, prices may face resistance between 78.5-79 (the earlier peaks). Therefore, one can book partial profits in Aluminium at 78 levels. Breaching 79 on upside cam take prices further higher.