Monday, 31 March 2014

Copper Technical Comment For 1st April

Copper has formed a psychological base of Rs 400 per kg which is not likely to be broke any time soon. The prices are expected to show some material moves on the higher side if Rs 406 is broken. The next moves are expected to be towards Rs 410 and 412 per kg. Open interest in Copper has shown decline in last few days, which is an indicator of short covering. Looking at a one week pattern of the intraday charts it is seen that the parallel trading range of Rs 406 and 395 per kg is active in Copper. MCX Copper closed the last session trades at Rs 404.15 per kg, down 0.11%.

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1 comment:

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