MONDAY
MORNING UPDATE
Base metals prices are under pressure after dollar is trading
at a 16 month high .'
The dollar has been supported by expectations of another
rate hike by the FED this month.
The persisting trade tensions between US and China also putting
pressure on the prices .
Nickel prices are under pressure as the global supply
Nickel deficit is expected to narrow down by 1600
yuan per tonne from last Friday .
Nickel faces greater downside risk from the decline
in demand from Chinese stainless steel mills .
Mcx Nickel currently trading at Rs 831.30
Levels are as under
SUPPORT 1 820
SUPPORT 2 809
SUPPORT 3 798
RESISTANCE 1 840
RESISTANCE 2 852
RESISTANCE 3 860
We will keep updating .
\
MORNING UPDATE
Base metals prices are under pressure after dollar is trading
at a 16 month high .'
The dollar has been supported by expectations of another
rate hike by the FED this month.
The persisting trade tensions between US and China also putting
pressure on the prices .
Nickel prices are under pressure as the global supply
Nickel deficit is expected to narrow down by 1600
yuan per tonne from last Friday .
Nickel faces greater downside risk from the decline
in demand from Chinese stainless steel mills .
Mcx Nickel currently trading at Rs 831.30
Levels are as under
SUPPORT 1 820
SUPPORT 2 809
SUPPORT 3 798
RESISTANCE 1 840
RESISTANCE 2 852
RESISTANCE 3 860
We will keep updating .
\
