Post Top Ad

DAY TRADING TIPS

ALL TARGETS MET IN JANUARY -----------

Post Top Ad



Copper and other base metals have been struggling amidst trade war talks. Yesterday all base metals were trading in green zone, trading in upside zone with limited movement.

The current contract of Copper closed around 434 on MCX yesterday and was seen trading this morning with some strength. Lack of fresh drivers kept entire future market stagnant on Wednesday.

Today morning with the release of Chinese trade data, market saw a little upside movement. Looking at the Chinese trade data, better than expected news came from China. January’s trade data from China released this morning showed an increase in export and decrease in imports.

Copper GeneratebucksChina's January dollar-denominated exports rose 9.1 percent from a year ago, defying a forecast of a 3.2 percent contraction. China's imports fell 1.5 percent over the same period, far better than the 10 percent decline that was expected. China's overall trade surplus of $39.16 billion in January also beat expectations.

It is quite obvious that Chinese economy is still kicking and internal reforms are adding boast to the economy but few economist believes that outlook for this year is down. This is majorly due to slowing in global growth that would hit exports.

With trade talks moving on an optimistic track we can still expect traders to be slow this week so I see a range bound trade in all base metals.


American and Chinese trade negotiators began a new round of talks in Beijing this week as the world's two largest economies renewed efforts to reach a deal. Officials from both countries are trying to reach a deal ahead of a March 1 deadline when U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.

Copper Investing

Copper is expected to trade sideways to upside today. Investor should enter the market at 435 for target of 440 with stop loss of 432. Traders are advised to create long positions since market trend is sideways to upside.

Zinc Investing

I expect an upside for Zinc. Buy Zinc at 185.50 for target of 187 with stop loss of 184. Zinc has been hold around this zone and slight upside is expected based on technical analysis.

Lead Investing

Lead prices are following Dr. Copper so we can expect a little upside. Enter long postion at 144 for target of 146 and stop loss of 142.

Read disclaimer before investing

No comments:

Post a Comment

Leave your comments below.

Post Top Ad