Monday, June 2, 2008
UPDATES ON 2 JUNE 2008
JUNE 2 2008 MONDAY
SHORT TERM TREND : BEARISH : TARGET RS 332
LONG TERM TREND : BULLISH :TARGET RS 370
MARKET IS EXPECTED TO MOVE SIDEWAYS TO LOWER.
PREFER SHORT AT RS 338 TO 338.50
STOP LOSS RS 341
.
TARGET RS 332
Copper may decline next week as the dollar gains against other currencies,
eroding the metal's appeal as a currency hedge.
Ten of 17 analyst and traders surveyed yesterday forecast copper
will drop next week.Copper for delivery for 3 months on the
London Metal Exchange has fallen 3.4% this week.
SHORT TERM TREND : BEARISH : TARGET RS 332
LONG TERM TREND : BULLISH :TARGET RS 370
MARKET IS EXPECTED TO MOVE SIDEWAYS TO LOWER.
PREFER SHORT AT RS 338 TO 338.50
STOP LOSS RS 341
.
TARGET RS 332
Copper may decline next week as the dollar gains against other currencies,
eroding the metal's appeal as a currency hedge.
Ten of 17 analyst and traders surveyed yesterday forecast copper
will drop next week.Copper for delivery for 3 months on the
London Metal Exchange has fallen 3.4% this week.
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