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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