Base metals are trading with positive bias today and all the metals on MCX are trading with edge. February contract of MCX copper is moving above 409 level which could be a positive sign for a bullish momentum. Copper Prices are likely to reach 411.50-412 level today and traders can buy copper accordingly.
Below 407, this metal may see some downside. Trading range for short term is 403-414. A break in either side would decide the direction of the prices
Showing posts with label MCX Copper Updates. Show all posts
Showing posts with label MCX Copper Updates. Show all posts
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.
