Sunday, September 23, 2018

Intraday trading tips for base metals amidst US-China Trade war 09/24 –

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MCX trading tips -

Happy Monday! Last week we saw all base metals trading in Green and breaking resistance levels with Copper, Zinc closing at 458.15 and Zinc closing at 182 on MCX.

Starting this Monday, 10% tariffs on imposed by President Trump comes into effect. These tariffs are imposed on thousands of products including food seasonings baseball gloves, network routers and industrial machinery parts. Read more

China retaliated with new taxes of 5%, 10% on US products. China on Saturday called off planned trade talks with U.S. officials amid the escalation.

With positive trends in base metals last week, we could say that traders have discounted the trade war concerns.

With respect to Indian Rupee we did see slight recovery this morning but investors are counting on the fact that Rupee will be seen trading in red again.

Government is planning to curb imports and to control the falling Rupee but these measures will impact long term trends.

Looking at individual Base Metals


China is biggest consumer of Copper. With holiday in China and Japan, market would should less movement.
US has shown optimistic attitude about finding a way to resolve trade tensions and this could turn positive for the market.
Overall, I don’t expect much movement today. I would suggest a quick trade today. Buy Copper at 459 for target of 462 and SL of 455.


Overall trend for base metals is positive with less volatility. I would suggest a buy in Zinc at 180.50 with SL of 179 and target of 182
India Rupee will also play a role in market and we would see market trading in green.


Looking at charts and fundamentals for Aluminium, this would be a great commodity. It seems buyers are dominating the market. Buy Aluminium at 148 for target of 149.40 and SL of 146.

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