According to Motilal Oswal, Base metals have been in corrective mode before the weekend set, but still some managed to close the week in the green rising for highest levels in last few months.
Motilal Oswal's report on Base Metals Weekly
Base metals have been in corrective mode before the weekend set, but still some managed to close the week in the green rising for highest levels in last few months. The selling set in after last week on back of second wave of corona virus cases in the US and China.
Outlook
The recent rise second wave of cases in may part of the world it could lead to another round of shutdown or slowdown in many economies and the next rally could start to fade off. Liquidity push and Quantitative easing measures will continue to follow and lend support time to time, but actual demand has been struggling, so we remain cautious on the recent up move and advice being light in wake of a correction.
For all commodities report, click here
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