Copper, Aluminium, USD/INR market report

09^th, September, 2022                                                                             

Commodity	Buy level (LME) Near	Sell level (LME) Near	48 Hours range	10 Days range
Copper	≤7600	≥7800	7700 - 8000	7500-8000
Aluminium	≤2250	≥2400	2250 - 2325	2250-2375
INR	≤79.30	≥80	79.50-79.90	79.30-80.10

 

 

 

 

OUR VIEW

Commodity: - Copper – Looks to Bearish (downward) as maximum range.

                           Better to sell, Buy ≤ 7600, Sell ≥ 7800

                        Aluminium – Looks to stable as already touch the bottom level.

                           Better to hold, Buy ≤ 2250, Sell ≥ 2400

 USD/INR    : - Better to wait if not urgent, Buy ≤ 79.30, Sell ≥ 80               

 

FACTOR AFFECTING MARKET                 

·        Copper has surged not fundamental but on the threat of production output caused by strike possibility in 'Escondido' largest copper mine.

·    But, whenever there is threat of strike will not resist too long to scouts to sell copper at this level.

·   Aluminiumm's gain yet to pending as aluminium consumption and demand cum not remain down for too long.

·   Good news for USD/INR is that India rupee may find place in global bond index. Which raise of losses INR.   

·   Currently due to down in crude oil is kept Rupee strong and will remain for the same next 3-4 day.

 Previous forecasting results achieved, showing in Red:

 

Commodity	48 Hours range	10 Days range
Copper	7600 – 7775(08/09)	7500 – 7900
Aluminium	2250(08/09) – 2325(08/09)	2250(08/09) – 2400
INR	79.60(08/09)- 79.95(08/09)	79.30 – 80.10

 

 

 

 Find previous research, all you need to know.

https://buysellbs.blogspot.com/2022/09/copper-aluminium-usdinr-market-report.html

Thank you

Rahul Mudra

Disclaimer: This article is for Study and research purpose. Request you to use your wisdom before applying it.