MCX Silver & Copper Updates for Today

On MCX copper is trading above 418 and staying above 418.50 would lift the prices further. Above 422 we can see prices to go up to 424-426 level. But recession in Global Economy has fortified the declining interest of investors in Copper and the open interest of this metal fell to a low of 5 years so we may see some consolidation in this commodity.
On downside, copper may experience a downfall below 416 level.

In Bullion metals, Silver seems to trade with positive trend and it has breached the crucial resistance level for 54550. Staying consistently above the same can extend the positive trend till 54650-54750 level. Silver traders can buy mcx Silver (September Contract) above 54550 for the targets of 54750-55000 level.


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