Friday, December 10, 2010

MCX Trend: Copper Likely To Move Up


Copper February contract on MCX breached the all time high (415.40) during yesterday’s trading session and settled down at 409.35. A long black candle sticks witnessed in daily chart suggests a slight correction during the uptrend.


The indicator RSI (14) is at 0.68 suggests that still there are potentials in the trend. Prices are trading above the Short term EMA indicates strength in the trend. We suggest investors and traders to go long for the day.

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Posted By Commodity MCX Tips