Saturday, June 11, 2011

Copper Updates- Next Week Trading Strategy

Copper is in a consolidation phase and traders should use the strategy of sell on higher levels. Last week COMEX Copper was down for most part of week and closed near to its week low. If next week COMEX Copper sustains below the level of 415
then below the level of 399 Copper can test the level of 392. In MCX Copper below 399 Copper can test the level of 397 if it does not break the level of 415 on the upside.

For the upcoming week 435 and 437 will act as major resistance and 400 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 400 and 380.


Posted By Commodity MCX Tips