Commodities - Technical Analysis

Major Headline

Wednesday, September 5, 2007

BaseMetals

Aluminum Sept:
Market have turned down after heavy inventory data, traders can sell on small pullback for intra day. Major support 99.30, 98.85 Major resistance 100.5 and 101.25

Copper Nov:
Fundamentals still strong for Copper, Technically market is weak, Major support 297.50 and 296.50. Major resistance 301.25, 303.25 and 305

Zinc Sept:
market is looking weak on charts, major dips can be used as a buying opportunity, Major support 121.50 and 120.10. Major resistance 124.25 and 126.75

Lead September:
Open interest increased with the fall but some recovery was also witnessed from the low of Rs 122.30. Major support 122.3 and 120.6 & Major resistance 126.2 and 128.4

Nickel Sept:
Market witness awaited correction after a sharp rally, traders can use dips for buying opportunity, Major support 1165, 1135 Major resistance 1205 and 1224

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