Copper may test at around Rs 414-413: Nirmal Bang

Nirmal Bang has come out with its report on Copper, Gold, Silver, Nickel, Lead and Crude.

Copper prices are trading within the channel, prices can tested the support at 414 -413. Prices are expected to trade within 413 - 420. oscillators are turning down.

Gold prices are bounced a bit after a huge fall, prices are expected to trade lower if sustains below 28050, prices can test 27800 -2700 on lower end. oscillators witnessing the crossover which is negative for the precious metal.

Silver prices are trading in a narrow range, prices are expected to test 55500 -300 on lower end. Strength will be witnessed above 56700.Oscillators are trading flat.

Nickel was the outperformer yesterday, one should buy on dips around 1050. Prices can test 1075 on higher end. oscillators are in positive zone.

Lead prices are resisting the middle Bollinger bang, with oscillators heading down one can expect selling pressure on higher end around 107 - 107.20. oscillators are heading down.

Crude prices is holding the support at 4700 and are expected to trade higher, prices may test 4830 - 4850 resistance zone. oscillators are in over sold zone hence a bounce back cannot be ruled out.

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To read the full report click on the attachment