Copper Updates For Today

MCX Copper View for Today

Copper along with other base metals has faced a sharp decline today. It is trading near 418 with a loss of more than 1%. Technically it has breached the immediate support of 418.50 and remaining below the same may extend this downside towards 416-414 level. However negative LME inventory data has supported the international copper prices so a bounce back recovery can not be ruled out. Sustained upside is seen above 424 only.

Commodity Updates- Gold Silver Up, Copper Trend is positive

Commodity Bullion Updates:

Domestic Bullion market started off with positive bias. The trend is looking bullish with MCX Gold trading above 30100 and Silver above 55200 level. Yesterday gold managed to close above 30000 at 30057 and witnessed 0.30% rise while silver closed with slight decline to close at 55017.

Crude Updates:

 NYMEX crude started with slight downfall but has recovered now and currently trading above $83/barrel. However mcx crude trend is still intact and after witnessing a decline of 0.30% on Wednesday, it has decline 0.30% again to trade around 4625 level. A trade below 4600 can bring prices down to 4550 level.

Copper Trend: 

Base metals opened in positive note. MCX Copper is trading higher with nearly 0.50% rise. If it manages to sustain above 412.50, we can expect copper prices to go above 416.50.