Saturday, June 4, 2011

Copper Updates- Weekly Trading Strategy

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 but on that last day it bounced back. If next week COMEX Copper sustains above the level of
405 then above the level of 420 Copper can test the level of 426. In MCX Copper above 420 Copper can test the level of 426 if it does not break the level of
405 on the downside.

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