Sunday, 24 February 2013

MCX Base metals weekly View for Feb'25-Mar'02'2013.


MCX Copper
MCX Copper Closing Price 423.55.Copper made loss nearly 25 points in Last week.Hedge Funds Oil & Metal market Liquidation News,China s Aluminium Stocks rise& U S Economic data makes base metals trade lower this week.

Monday(25.02.2013)China Manufacturing Data is coming,If the data positive ,base metals likely to trade in Buying side.If MCX Copper Opens above 423.80,Copper Likely to trade Higher.MCX Copper Looks weak on Daily & Weekly Chart. 

MCX Copper Weekly Technical Levels

MCX Copper Upper side breakout point     : 427.30(Buy Comes above this point)

MCX Copper Technical Resistances levels  : 430.70,433.80,434.90,

MCX Copper Down side breakout point     :  422.70(Sell Comes below this point)

MCX Copper Technical Supports levels      : 419.70,416.90,415.10

MCX Copper Technical Range/Levels this week    :434.90-415.10

MCX Copper Fibonacci Trading Range this week  :454.80-416.20


MCX Lead
MCX Lead Closing Price 124.75.MCX Lead technically weak in MCX Daily & Weekly Charts.MCX Lead Holding strong Support at 124.60.Once it break Lead likely fall up to 122 levels.

MCX Lead Weekly Technical Levels

MCX Lead Upper side breakout point     : 126.70(Buy Comes above this point)

MCX Lead Technical Resistances levels  : 128.40,129.80,131.30

MCX Lead Down side breakout point     :  123.60(Sell Comes below this point)

MCX Lead Technical Supports levels      : 121.80,121.20,119.40

MCX Lead Technical Range/Levels this week    :131.30-119.40

MCX Lead Fibonacci Trading Range this week  :134.40-122.40


MCX Zinc
MCX Zinc Closing Price 112.30.MCX Zinc technically weak in MCX Daily & Weekly chart.Once Economic Data are come in Positive,Metal price may rise.

MCX Zinc Weekly Technical Levels

MCX Zinc Upper side breakout point     : 114.40(Buy Comes above this point)

MCX Zinc Technical Resistances levels  : 115.60,117.10,118.20

MCX Zinc  Down side breakout point     :  112.10(Sell Comes below this point)

MCX Zinc Technical Supports levels      : 111.00,110.10,108.70

MCX Zinc  Technical Range/Levels this week    :118.20-108.70

MCX Zinc  Fibonacci Trading Range this week  :118.40-110.80


MCX Nickel
MCX Nickel Closing Price 917.50.MCX Nickel Weekly Chart looks weak,But Daily Chart positive for buying.Monday Nickel opens above 918 it looks positive.Nickel Recovery  is good sign for Base metals recovery.

MCX Nickel Weekly Technical Levels

MCX Nickel Upper side breakout point     : 926(Buy Comes above this point)

MCX Nickel Technical Resistances levels  : 934.30,940.20,947.40

MCX Nickel Down side breakout point     :  910(Sell Comes below this point)

MCX Nickel Technical Supports levels      : 904.20,897.80,892.30

MCX Nickel Technical Range/Levels this week    :947.40-892.30

MCX Nickel Fibonacci Trading Range this week  :1019.70-875.80

MCX Aluminium
MCX Aluminium Closing Price 109.20.MCX Aluminium technically weak in MCX Daily & Weekly Charts.Aluminum Stocks rise is the major reason for Price Fall.

MCX Aluminium Weekly Technical Levels

MCX Aluminium Upper side breakout point     : 110.80(Buy Comes above this point)

MCX Aluminium Technical Resistances levels  : 112.30,113.20,115.30

MCX Aluminium Down side breakout point     :  108.30 (Sell Comes below this point)

MCX Aluminium Technical Supports levels      : 107.30,106.70,105.20

MCX Aluminium Technical Range/Levels this week    :115.30-105.20

MCX Aluminium Fibonacci Trading Range this week  :118.10-107.10

MCX Commodity Last week(Feb'18-Feb'23'2013) Bhav Copy Data for reference

Commodity
Open
High
Low
Close
Copper
448.05
448.05
423.00
423.55
Lead
132.35
132.35
124.6
124.75
Nickel
994.4
994.4
901.1
917.5
Zinc
117.05
117.05
112.20
112.3
Aluminum
116
116.2
109.10
109.2

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