Thursday, 3 April 2014

Copper Technical Comment For 4th April

MCX Copper has been depicting dicey moves in the intra day sessions this week. The prices have been swinging between profits and losses making it difficult for day traders to take a formidable positions on one side. After struggling during Thursday the prices showed some gains on the higher side. The resistance for MCX Copper is now at Rs 407 per kg. The benchmark contract closed the last session trades at Rs 405.9 per kg, up 0.3% last week. The supports of MCX Copper is at Rs 398 per kg levels look strong. If Fibonacci pattern is considered the next set retracment level is at Rs 413 per kg

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