Copper Updates- Trdaing Recommendations for Today

MCX Copper opened at 400.90 dropped by 0.70 percent in morning trades. MCX Copper futures test below levels at 395.95 with total volumes of 47630 lots.
Copper prices stays continuous bearish in last few trading sessions. Price is trading in tight range of 410-395. Due to heavy selling pressure at every weekly higher level, Copper prices remain under pressure in last week.

MCX Copper June delivery contract fell by 0.80 percent to 0.90 percent to 395.95 rupees per kilogram in beginning of the week.

Instant support for the Copper is seen at 397 and below could see a test of 394. Resistance is now likely to be seen at 403, a move above could see prices testing 409.

Technically, Copper seems to be weak from here. In case price closes below 397 on daily basis, Copper may drop lower till 380 in near term.


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