Saturday, June 25, 2011

Copper MCX Updates- Weekly Report and Trading Strategy (27th June to 2nd July)

Copper is in a consolidation phase and traders should use the strategy of buy on lower levels. Last week COMEX Copper was sustaining at higher level for most part of week. If in coming week, COMEX Copper sustains above the level of 415 then above 420 Copper can test the level of 430.
InMCX Copper sustains above 413 then above 415 it can test the level of 425 if it does not break the level of 397 on the downside.
Trading Strategy:
For the upcoming week 425 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 415 and 425 and supports would be found at 396 and 385.


Posted By Commodity MCX Tips