Today, Base metals are trading Lower in domestic market. despite a positive opening of 41.50, MCX copper Futures (August) made a low of 409.50 on Friday which cl;early indicates that breaching the stiff support level of 428 may increase the chances of straight fall in Copper and we can see prices to come below 400 level. Currently this base metal is trading in sluggish mode and trading near its opening price around 413 level. It is required for copper to trade above 416 for s sustained rally till 420-422.
For Intraday Trading, one can initiate buying in bullion metals. Buy Silver above 53450 for the targets of 53650-53850-54000.
Showing posts with label Copper Tips Today. Show all posts
Showing posts with label Copper Tips Today. Show all posts
Copper- Crude Updates for Today: Indian Commodity Market New
Extending yesterday's gains. Crude oil has climbed up more than 1%
today. MCX crude oil is trading up near 4750 level and prices are
expected to go further up in near future.
With a gain of 1.60%, Copper is trading above 412.50 level which was
the crucial resistance level for its June contract. Breaching this
level is indicating that copper can further go up to 416-422 level
so traders can buy this base metal for these targets keeping strict
stop-loss on downside. 409 is the nearest support level for copper
commodity.
