Copper and base metals price forecast for Jan 15 – Generatebucks

On Friday copper was trading in green since there were positive signs of negotiations between US-China trade war. Copper and other base metals started this year with a positive note but seems to lose their shine this week.#online day trading

copper -generatebucks.comYesterday morning base metals on LME were trading low following the poor economic data from China at the time when global trade uncertainty continues to dampen risk.#online day trading

Among all the base metals, Zinc was seen suffering the most. Copper was seen trading around 1% down on MCX.#online day trading

Traders see uncertainty in the market and so we saw base metals trading sideways to lower yesterday.#online day trading

Looking at individual base metals


At LME Copper is still trading below its 20 day moving average. This indicates the sellers prevailing and dominating the market. 

A close above the 20 day moving average could indicate presence of buyers and allow copper to break its resistance.

Looking at long-term, Copper is uptrend and next resistance could easily become next support. Uptrend of copper comes from the pause in Fed’s rates and US- China trade developments. While dollar is edging down, the appetite of emerging countries expands.

Due to growing risks to Chinese economic growth, China could implement more easing measures this year, which should be copper-positive.#online day trading

There is a deficit in supply of copper and this could be one of the primary reasons of Copper’s uptrend behavior. Currently demand of copper is not much but is expected to increase latter half of the year.

Trade in Copper – I suggest a positional trader to enter the market around 410-415 for a one month target of 440 with stop loss of 390. You might have to hold on to your position for additional 15 days.

Intraday – Buy Copper at 415 for target of 420 with stop loss of 411.#online day trading


Lead prices could be seen trading in green today but upside in limited. I would suggest a buy in lead at around 140 for target of 142 with stop loss of 139. 


Zinc prices will be seen trading sideways today. I suggest to buy Zinc at 176 for target of 177.50 with stop loss 174.

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