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Published on 24/09/2020 10:10:40 AM | Source: Axis Securities Ltd

Sell Copper Around 529 SL ABOVE 532 TGT 526/523 - Axis Securities

Posted in Commodities Reports| #Commodity Tips #Axis Securities Ltd

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Copper

Copper prices closed on a flat note in last session Prices has retraced up till 61.8 percent which is also termed as Golden ratio of previous downward movement from 539 down till 521. Overall trend is looking weak as on hourly chart, RSI is below 60 level which indicate low momentum in prices Prices is also trading below 60 days EMA which is a negative sign for prices.Traders can sell COPPER around 529-529.5 for the target of 526 on intraday basis.

SELL COPPER AROUND 529 SL ABOVE 532 TGT 526/523

 

Zinc

ZINC prices closed in green in last session. However, prices is facing strong resistance zone near 195.5 level . On hourly chart prices is trading below upper bollinger band indicating lower volatiltiy in prices and RSI is below 60 level which indicate low momentum in prices. Traders can sell Zinc around 195.5 for the target of 194.5.

SELL ZINC AROUND 195.5 SL ABOVE 196.5 TGT 194.5/193​​​​​​​

 

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