Tuesday, June 21, 2011

Copper Updates Today

In Terms of trading volume, Copper is at second place after Crude oil. About 40,000 lots has been traded in Copper today. But since copper is trading with negative bias which is preventing copper to catch 409 levels which is crucial resistance level for Copper commodity. A minor support is seen near 403.50 a breach below the same may call for some downfall towards 400-399 levels while a move above 409 levels can negate our bearish view and copper may fly up to 411 followed by 412-414 levels later.
For Intraday Buy copper mcx June contract above 407.50 targets-409-4011 stoploss-404.50
below 403.50 sell copper for the targets of 401-399.


Posted By Commodity MCX Tips