Base Metals Trand Sideways on Mixed Fundamentals

Base Metals Trand Sideways on Mixed Fundamentals

Gold Silver Reports ~ Base metals may trade sideways on mixed fundamentals. Copper MCX may trade in rangeĀ of 332-342. Lead MCX may move in range of 122-126. Zinc MCX may move in range of 118 -124. Nickel MCX may move in range of 570-620 in MCX. Aluminum MCX may move in range of 104-108. Copper MCX, zinc MCX and other base metals rebounded as speculators piled back into the market on hopes more production cuts would lead to shortages and that top metals consumer China would introduce more economic stimulus measures.

RatesĀ are being driven by sentiment and momentum at the moment, but on a longer-term basis it is also being driven by the expectation that production will be cut, in some cases considerably, and China will probably continue to keep its economy alive with its stimulus programme. Nickel mcx drew support from news that nickel ore producers in the Philippines, the top supplier to China, have agreed to cut output and shipments this year by as much as 20 per cent. ~ 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