Friday, June 10, 2011

Base Metals Outlook- Zinc and Copper Updates

MCX Zinc (June) 
Zinc June futures contract while trading above 101.40 level, may see some upside till 103 initially. For a bigger move up zinc will have to breach the level of 104 and if it ables to break this level zinc may test 105.60-107 levels in near term. Below 99 we can see a direct sell off and it may fall down to 97.00 levels.

MCX Copper (June)
Copper MCX June contract is likely to trade in bearish zone as long as it continue to trade below 404.75 level and prices may move down to 401-398 levels. A breakthrough above 406.25 might help copper to move up in the ladder and to touch 409-412 levels which may be followed by 414 later. 


Posted By Commodity MCX Tips