Saturday, May 7, 2011

Copper updates- Weekly report

Market Overview
Copper is in a consolidation phase and traders should use the strategy of buy on lower levels. Last week COMEX Copper was down for most part of week. If next week COMEX Copper sustains above the level of 390 then above the level of 405 Copper can test the level of 412. 

In MCX Copper above 403 Copper can test the level of 410 if it does not break the
level of 390 on the downside.
For the upcoming week 435 and 437 will act as major resistance and 390 and 380 will act as major supports in COMEX Copper. For MCX Copper major resistance would be 425 and 437 and supports would be found at 390 and 380.


Posted By Commodity MCX Tips