CRUDE OIL

NYMEX Crude is consolidating on charts. Last week Crude Oil break its previous week high but was not able to sustain above it. For the coming week 70$ will act as major support and 80$ a barrel will be a major resistance.

For next week in Base Metals, Nickel can be bullish, as we saw last week Nickel was the only metal which was sustaining at higher levels. For the next week in Nickel, one should go for buy on lower level strategy if LME nickel sustains above $23250 then we can see it near $23650. In MCX Nickel 1063 is a good support, if Nickel sustains above this level then above 1083 we can see it near around 1105 level.