mcx base metals commodity report for 21 october 2016

mcx aluminium commodity report for 21 october 2016 Mcx aluminum future last closed at 107.85 with the loss. Aluminium prices in an absolute downtrend but technically oversold so hovering around the bottom. In short, term expects downside or high volatility but in medium term expect strong short covering rallies here. For intraday, mcx aluminium support zones are 107 and 106. While on upside 108.5 and 110.5 are resistances as well as target levels. mcx copper commodity report for 21 october 2016 Mcx copper future last closed at 311.5 with the loss. Copper also in a downtrend but like aluminum it is the oversold and near the bottom. From here expect big upside in medium to long terms. For intraday, mcx copper support zones are 310 and 307 while on upside 314 and 319 are resistances as well as target zones for traders. mcx lead commodity report for 21 october 2016 Mcx lead future last closed at 134.3 with gain. Lead has given strong reversal move and heading towards resistance level of 136. For intraday, mcx lead future support zones are 132.6 and 131 while on upside 135 and 136 are resistances as well as target zones. Above 136, the mcx lead trend will be bullish and in that scenario swing traders can expect a target of 142 to 147 in medium to longer terms. mcx nickel commodity report for 21 october 2016 Mcx nickel future last closed at 675.1 with the loss. Nickel also trending down towards major historic support zones and looks bearish but technically oversold. Here 670 and 655 are downside support as well as buying levels for investors. On upside 62 and 688 are intraday resistances as well as target zones. mcx zinc commodity report for 21 october 2016 Mcx zinc future last closed at 152.1 with the loss. Mcx zinc is recovered from lows and heading toward major hurdle of 155 rupees above it a trend and momentum will be bullish and expect strong short covering rallies above it. For intraday mcx zinc future support zones are 151.8 and 150 while on upside 154 and 155 are resistances as well as target zones for traders. For mcx base metals trading tips on WhatsApp with live support and follow-ups join our mcx tips service.

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