All Base Metal Intraday Trading Zone, Copper, Zinc

CAll Base Metal Intraday Trading Zone, Copper, Zinc

Gold Silver Reports — Base metals pack may trade sideways as US Chicago PMI data to give further direction to the prices. MCX Copper may move in the range of 327-332.

All Base Metal Intraday Trading Zone, Copper, Zinc

Lead MCX can hover in the range of 119-123. Zinc may move in range of 145-150. Nickel may move in the range of 695-720 in MCX. Aluminum MCX can move in the range of 105-107 in MCX. Copper MCX has climbed, boosted by a lower greenback after the US central bank left rates unchanged and some expectations of steady demand in top consumer China.

The Fed said near-term risks to the economic outlook had diminished, but gave no firm indication of whether it would raise rates at its meeting in September. Demand for copper in China, which accounts for nearly 50% of global consumption estimated at around 22 million tonnes this year, has fallen sharply in recent years as growth and investment spending has slowed.

Nickel ended up 3.2 per cent at $US10,695 a tonne on worries about ore supplies from the Philippines and a pollution-related crackdown in China’s nickel pig iron smelters in Linyi city, Shandong. — Neal Bhai Reports

READER DISCLAIMER

Our site is objectively in letter and spirit, based on pure Technical Analysis. All other content(s), viz., International News, Indian Business News, Investment Psychology, Cartoons, Caricatures, etc are all to give additional ambiance and make the reader more enlightening. As the markets are super dynamic by very nature, you are assumed to be exercising discretion and constraint as per your emotional, financial and other resources. This blog will never ever create rumors or have any intention for bad propaganda. We report rumors and hear-say but never create the same. This is for your information and assessment. For more information please read our Risk Disclaimer and Terms of Use.

Technically Yours,

Team GoldSilverReports.com, New Delhi, INDIA