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Published on 24/01/2020 6:32:09 PM | Source: Axis Securities Ltd

Sell Copper Below 443.50 SL Above 446 TGT 440/438 - Axis Securities

Posted in Top Stories| #Commodity Tips #Axis Securities Ltd

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Nickel

Nickel price is trading under falling trend line chnnel, price is expected to trade negative. Sustaining below 1000 next leg of correction would drag price lower towards 990/985 levels. Price is taking resistance near 60EMA which shows selling should be accumulated at every rise. On hourly chart price is trading at 35 it indicates low momentum in price.

SELL NICKEL BELOW 1000 SL ABOVE 1006 TGT 990/985

 

Copper

Copper price is trading under bearish momentum, price is expected to trade negative. Since the level it broke 450 price sustainined to trade under pressure. Any break down below 443.50 next leg of correction would drag price negative towards 440/438 levels in intraday. On hourly chart price is trading below 9,21&60 EMA which is bearish sign for price.

SELL COPPER BELOW 443.50 SL ABOVE 446 TGT 440/438

 

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