Base Metals and Energy Updates: Copper Sideways, Natural Gas Bullish as US suffers Cold weather

Intraday support for copper remains at 441 with immediate support at 443.5, till holds
above will trade sideways to up. Immediate resistance is at 448 and sustained breach above
the same could target 451 - 455. But, our view could negate if it breaches below 441.

Nickel continues to trade sideways to up and is close to 888 level at present. Support for the 
day is at 882 followed by strong support at 876, till holds above buying is advisable for 
intraday. Immediate resistance is at 894 and sustained breach above the same could extend 
upside towards 907 - 910

Crude oil corrected yesterday on failure to breach resistance at 6270. However, the price 
has good support at 6150-6170 range. The short-term trend remains positive above this 
support area. Breach above immediate resistance at 6270 could resume the uptrend now for 
the target of 6350. 

Price has support at 332 level with immediate resistance at 338. Sustained trading above 
338 could extend the upside move towards 345 followed by strong resistance at 351 level. 
Selling is advisable on sustained trading below 332. Next best support is at 325 level. 


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