Trading the base metals

 Base Metal trading guide for 29th August, 2012

For Base metal traders I give below the pivot points that could be used for intraday trading. A point to note is Zincmini is still in the bullish zone. MACD, T3 and Stochastic are in the green. There is a rise in volume too, but since the month is ending there could be some changes in the volume. The Leadmini too in the bullish zone. All major indicators are backing it. Only the SMI indicates that it is approaching overbought zone. 

The spread gap has also increased to 6.55. Traders who have entered a bear spread can consider booking profit.

                    R2             R1           Pivot       S1           S2

Leadmini    109.98       109.55     109.12     108.88    108.63

Zincmini     103.38       103.10     102.82     102.60    102.38

While the Zincmini may travel up, the Leadmini can meet some resistance. Traders should take note of this.

Happy trading!