Friday, June 6, 2008
UPDATES ON JUNE 6 2008
JUNE 6 FRIDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 333 TO 342
LONG TERM TREND : BULLISH : TARGET RS 370
Copper and aluminium gained around 2 percent on Friday, supported by a
weaker dollar and falling stocks in London and Shanghai, analysts said.
London Metal Exchange copper MCU3 gained $175 or 2.2 percent to $7,985
per tonne at mid-session, buoyed by threats to supplies from Chile and
short -- bets on lower prices -- position covering.
China, copper's top consumer, is closed on Monday for the Dragon Boat Festival.
SHORT TERM TREND : SIDEWAYS : TARGET RS 333 TO 342
LONG TERM TREND : BULLISH : TARGET RS 370
Copper and aluminium gained around 2 percent on Friday, supported by a
weaker dollar and falling stocks in London and Shanghai, analysts said.
London Metal Exchange copper MCU3 gained $175 or 2.2 percent to $7,985
per tonne at mid-session, buoyed by threats to supplies from Chile and
short -- bets on lower prices -- position covering.
China, copper's top consumer, is closed on Monday for the Dragon Boat Festival.
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