Wednesday, July 6, 2011

Base Metals News- Copper and Zinc Updates

In Zinc MCX, a trade above 105 with good volume may take prices higher towards 107.5-109 levels else MCX zinc is in the bearish zone for the for the day. The support is seen near 104.60 below which prices may touch 103 and 101.70 levels later.
While MCX Copper is still enjoying the broad positive trend and on the up side the crucial resistance level is seen near 428. above the same, copper may extend its bullish trend towards 432 followed by 434 and even 438 also. But a mild correction could be seen till 421-418 levels but major downside is seen only below 415 levels.

One can buy Copper around 422-424 for the targets of 428 keeping stoploss below 420.


Posted By Commodity MCX Tips