Base Metals Trading Tips and Commodity Market Update: Nirmal Bang

Base Metals Trading Tips and Commodity Market Update: Nirmal Bang   Copper: The counter remains range bound between 292-287 since few sessions, however the counter formed a DOJI yesterday after closing near its open. Thus there seems to be an uncertainty in the trend. However bias remains on downside after looking at the rising -DI and dropping RSI. Thus one can sell only below 287 levels targeting 284 and 282.

Nickel: The counter remained below all moving averages, but did breach the support at 797 levels. The RSI picked up a bit after positive closed in yesterdays session, but the -DI remains on the upside. Thus prices can move up to 835-40 levels above 810 levels, but breaching 797 can trigger selling till 780 and 775 levels.

Aluminium: The counter remained positive yesterday and closed above the 7 DMA of 87.10. The immediate have reversed with breaching the trend line. The RSI also remained above the MA. Thus prices may test 88.5 and 89 levels today if maintains above 86.5.