Base Metals Trading Tips and Commodity Market Update: Nirmal Bang

metalCopper prices are trading range bound after breaching the trend line. The prices are trading below the support level of 242 and below the 9 DMA. The MADC has given a cross-over with DAV on downside. Thus the bias remains negative for the Copper prices. Breaching 237 can push prices lower to 231-32 levels. Thus, one can sell copper below 237.

Nickel prices are seen moving down, after taking support at the 693 levels. The MACD has given cross-over on downside. Thus the bias remains on the downside for Nickel prices. One can sell Nickel targeting 693 and 684.

Lead prices are taking resistance at upper levels. The RSI has given cross-over om downside, which indicates negative for prices. The ADX is seen dropping down, thus the bias remains negative for lead. Breaching 77.5 levels can push prices lower to 74 levels.