Copper Trading range Today- MCX Base Metals Updates

Yesterday MCX Copper (June) settled in green Zone with 2.35% of gain (410.7%) after making a low of 401.50 which was the open price as well.

Today the Nearest support for Copper is seen near 404.50 a trade below which could lead Copper to go down till 398.2 levels. Where as resistance is seen near 412.50 above which Copper can see some more up-move towards 414 followed by 417.

Trading range for copper is 398-417.

For Intraday Buy Copper June around 410.50-411 fo the targets of 414-416 Stoploss 406.70

MCX Copper Updates- Trend This Week (13th June-18th June)

Copper has been facing range bound session from last few sessions. Traders should go for sell on high levels strategy in copper to avoid uncertain losses. Last week copper remain in bear zone for most of the days and shut close near the week’s low. COMEX copper if next week succeed to remain below 415 level, it may face some sell off toward 399 followed by 396-392 levels.

MCX Copper on the other hand can face some down fall below 399 and can test the level of 397-394.

While above 409 copper can see some uptrend and may touch the level of 412-415 followed by 418-422.

Copper Trend For Today 19 May 2011

Copper Prices are likely to trade Higher if it manages to trade above 403 levels and prices might go up to 409 which could be followed by 416-421 if it breaks 411 level. Below 398 prices may face sharp fall till 395-391.

One can initiate long only after 403.50 for the targets of 406-409 keeping a stop loss below 398.