Base Metals Trading Tips and Commodity Market Update: Nirmal Bang

Base Metals Trading Tips and Commodity Market Update: Nirmal BangCopper: The counter is taking support around 288 levels if the prices trades below 288 we can expect the counter to test 285-284 levels in the short run. Negative crossed over in RSI and MA indicates the prices to remain sideways to down.

Nickel prices are trading range bound taking support at 925-30 levels with dropping RSI and dropping +DI, thus breaching 920 levels can push prices lower to 880-90 levels. However prices are still above the 7 DMA. Thus prices are expected to trade side-ways to down.

Aluminium prices are trading sideways to down in past few session, in addition prices have breached the support at 92.4 yesterday. Dropping RSI with and dropping +DI and ADX indicate short term weakness in the counter. We are expecting the prices to test 89-88 in the short run as long as holding below 93.