Saturday, July 2, 2011

MCX copper reports- Weekly Updates (4th July- 9th July)

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 and closed near to its week high. If next week COMEX Copper does not sustains above the level of 430 then below the level of 425 Copper can test the level of 420. In MCX Copper sustains below 425 then below 421 it can test the level of 416 if it does not break the level of 432 on the upside.

For the upcoming week 445 and 455 will act as major resistance and 415 and 405 will act as major supports in COMEX
Copper. For MCX Copper major resistance would be 430 and 440 and supports would be found at 410 and 40


Posted By Commodity MCX Tips