Technical Comment For The Day: Copper MCX Copper benchmark contract was unable to hold the crucial Rs 461 mark and slipped below it to settle at Rs 459.25 per kg on Thursday. Incidentally, Rs 461 was the trendline support for the contract. The selling pressure continuation can see prices rolling down towards Rs 455 per kg in the coming sessions. Sell on rallies can be the strategy adopted for the metal in the coming days. Resistance for the metal is now established at Rs 462 and 465 per kg. COMEX Copper December expiry contract was trading at $ 3.2115 per pound in the early Asian trades.
Posted on: Fri, 13 Sep 2013 05:21:31 +0000
Trending Topics
Recently Viewed Topics
© 2015