Base Metals Technical Report september 08,2015 - Emkay Commotrade-Shanghai Metals Market

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Base Metals Technical Report september 08,2015 - Emkay Commotrade

Industry News 09:50:09AM Sep 09, 2015 Source:SMM

By  Paul Ploumis 08 Sep 2015  Last updated at  08:05:47 GMT 

Trade Strategies

Commodity Trading Strategies for the day

CommodityStrategyLevelsTargetStop-Loss
Natural gas – AugBuy178—177182175.20
Copper – NovBuy355—354360.80350.90
Nickel – SepBuy657—655680645.50

Copper –Daily Chart

copper 08.jpg

Copper: Nov. Copper prices are approaching its recent swing highs at 358 levels Some selling can be seen between 357-358.50 zones which can drag prices lower towards 355-354 levels The intraday view for the counter will remain positive until prices stay above 354 levels. Until then dips should be used to take long positions. Sustenance above 358 will take prices towards 360.80/362 levels

Zinc –Daily Chart

zinc 088.jpg

 Zinc: Zinc prices will witness further upside momentum only if prices sustain above 121.10 levels. Prices can advance towards 1221122.35 levels in that case. Failure to sustain above 121.10 will see prices retrace towards 119/119.50 levels. Until prices hold on above 119 corrective moves can be used to buy into the counter.

Lead: Sustenance above 112 levels on dips will take lead prices higher towards 113.50/113.80 levels. The intraday view for the counter will remain positive until prices stay above 111.40 levels. Next major resistance for the counter is seen between 114-113.80 levels. A daily close below 111.40 will see prices dip towards 110.50/110 levels.

Nickel: Nickel prices have bounced after testing its major support areas around 650 levels. Further upside in the counter is likely only if prices sustain above 670 levels. Prices will rally towards major resistance placed between 680-685 levels in case of a breakout above 670. Intraday view will remain positive until prices stay above 654 levels on dips.

Aluminium: Aluminium prices have managed to rebound from its lows at 106.15 levels. The momentum can take prices higher towards 108.60 levels which is an immediate resistance for the counter. Prices need to sustain above this level to advance higher towards 109.45 levels. Failure to sustain at higher levels will see prices retrace towards 107/106.50 levels again.

Courtesy : Emkay Commotrade

Emkay Commotrade Ltd.

7th Floor, The Ruby, Senapati Bapat Marg, Dadar - West, Mumbai - 400028. 

India Tel: +91 22 66121212 Fax: +91 22 66121299


Relative News

Price

more
#1 Refined Cu
Nov.15
46935.0
-90.0
(-0.19%)
Aluminum Ingot
Nov.15
13920.0
-10.0
(-0.07%)
#1 Lead
Nov.15
15800.0
25.0
(0.16%)
0# Zinc
Nov.15
18490.0
0.0
(0.00%)
#1 Tin Ingot
Nov.15
135250.0
0.0
(0.00%)

Base Metals Technical Report september 08,2015 - Emkay Commotrade

Industry News 09:50:09AM Sep 09, 2015 Source:SMM

By  Paul Ploumis 08 Sep 2015  Last updated at  08:05:47 GMT 

Trade Strategies

Commodity Trading Strategies for the day

CommodityStrategyLevelsTargetStop-Loss
Natural gas – AugBuy178—177182175.20
Copper – NovBuy355—354360.80350.90
Nickel – SepBuy657—655680645.50

Copper –Daily Chart

copper 08.jpg

Copper: Nov. Copper prices are approaching its recent swing highs at 358 levels Some selling can be seen between 357-358.50 zones which can drag prices lower towards 355-354 levels The intraday view for the counter will remain positive until prices stay above 354 levels. Until then dips should be used to take long positions. Sustenance above 358 will take prices towards 360.80/362 levels

Zinc –Daily Chart

zinc 088.jpg

 Zinc: Zinc prices will witness further upside momentum only if prices sustain above 121.10 levels. Prices can advance towards 1221122.35 levels in that case. Failure to sustain above 121.10 will see prices retrace towards 119/119.50 levels. Until prices hold on above 119 corrective moves can be used to buy into the counter.

Lead: Sustenance above 112 levels on dips will take lead prices higher towards 113.50/113.80 levels. The intraday view for the counter will remain positive until prices stay above 111.40 levels. Next major resistance for the counter is seen between 114-113.80 levels. A daily close below 111.40 will see prices dip towards 110.50/110 levels.

Nickel: Nickel prices have bounced after testing its major support areas around 650 levels. Further upside in the counter is likely only if prices sustain above 670 levels. Prices will rally towards major resistance placed between 680-685 levels in case of a breakout above 670. Intraday view will remain positive until prices stay above 654 levels on dips.

Aluminium: Aluminium prices have managed to rebound from its lows at 106.15 levels. The momentum can take prices higher towards 108.60 levels which is an immediate resistance for the counter. Prices need to sustain above this level to advance higher towards 109.45 levels. Failure to sustain at higher levels will see prices retrace towards 107/106.50 levels again.

Courtesy : Emkay Commotrade

Emkay Commotrade Ltd.

7th Floor, The Ruby, Senapati Bapat Marg, Dadar - West, Mumbai - 400028. 

India Tel: +91 22 66121212 Fax: +91 22 66121299