Commodities Research Report by PINC Research
Aluminium prices is in a consolidation in line with our view. Support will come at $2470 level and stiff resistance around the $2600 level.
Zinc after being in a consolidation phase can target higher levels. Look for targets closer to $2600 level in the coming week.
Copper is likely to advance further in the coming week. An advance to $10400 is expected with strong support around the zone of $9800-$9600.
Gold is attempting a bounce now and can see it target $1380 and $1395 level. Weakness in this yellow metal will only come below $1340.
Silver has gained strength after the breach of $30 level. Its uptrend is likely to continue to be in force and target remains $31 and beyond.
Crude oil has slipped during the later part of the last week. Its weakness can increase if the level of $87.00 is breached which can see it test $85.00 level.