Nickel, aluminum, lead and tin are four base metals that are testing their ground.
These metals are trying to find support in a bearish commodity environment. If they fall below these key levels, they will be hitting 6-year lows and from there we could see these metals diving further as copper recently did as soon as they break the floor.
Lead and tin seem weaker than nickel and aluminum but the last two won’t likely hold as the others fall. What happens from now on might depend on whether crude oil has found its floor or not. Another downward move of crude oil would likely punish these metals and push them into new lows.
The next charts (going back to 2008) show the similar behavior that these four metals are displaying and the key levels buyers should be looking for. It’s key to understand what other metals are doing when you study the individual metal you buy.