Copper - Crude Updates and Trading tips for Today

Decreasing demand in Europe, US and chine has put pressure on crude prices and it is facing decline today and NYMEX crude prices have come down to $90 per barrel. Domestic market has witnessed a downfall of more than 0.60% in crude till now and mcx crude has come down to 4650 level. Consistent trading below this level may extend the bearish trend in crude oil and we can see the prices to come down to 4600-4550 level. Buyers can take interest above 4680 level.

Strengthening of dollar has caused base metals in LME to decline sharply due to which MCX copper has to suffer an initial downside of more than half percent. Copper is trading near 431 level and a trade below 430 can further push the prices down to 426-424. Traders can go for short in this commodity below 430. Technically, upside is expected above 436 only.  


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