June 21 AMT comment on LME base metals
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The following is a daily review of base metals transactions published on June 21 by Amalgamated Metal Trading Limited (AMT), a leading brokerage of the London Metal Exchange (LME). Zinc: The market is slightly overbought and is expected to remain weak in the short term. Tin: Today's close is not conducive to the outlook, but traders' buying is expected to support the market. Lead: The resistance at 960 US dollars will be strong and is expected to decline in the short term. Nickel: The sell-off was heavier on the upper hand, and double-bottomed at $15,875. However, it is expected that this position will continue to be tested in the short-term. Note: Copper and aluminum reviews are not provided.