Monday, June 20, 2011

Copper Updates- Weekly Outlook (20th June- 25th June)

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 and closed above to its previous week closing. If next week COMEX
Copper sustains above the level of 415 then below the level of 420 Copper can test the level of 430. In MCX Copper sustains above 410 then above 415 it
can test the level of 425 if it does not break the level of 397 on the downside.

For the upcoming week 425 and 437 will act as major resistance and 398 and 389 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