TECHNICALS FOR DECEMBER 11 MCX FEBRUARY COPPER SHORT TERM : SIDEWAYS LONG TERM : BEARISH SUPPORTS : 166, 163.50, 161 RESISTANCES : 170.30, 172.60, 175 WAIT FOR CONFIRMATION
VERY DIFFICULT TO GET LEVEL NOW AS THE PARITY OF RUPPEE VERSUS THE DOLLAR IS VERY VOLATILE. HOWEVER WE FEEL THE LME COPPER COULD TEST $ 2500 BY THIRD FIRST QUARTER 2009, I.E AT CURRENT RUPPEE LEVELS COULD TEST RS.120 WHICH IS THE LOWEST COPPER HAS TOUCHED SINCE COMMENCEMENT OF MCX TRADING IN 2004.HOWEVER ADDITIONAL SOPS BY CHINA AND USA COULD HOLD AT CURRENT LEVELS, TODAY EXPECTED TO TEST 170 TO 171 LEVELS.
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Thanks
VERY DIFFICULT TO GET LEVEL NOW AS THE PARITY OF RUPPEE VERSUS THE DOLLAR IS VERY VOLATILE. HOWEVER WE FEEL THE LME COPPER COULD TEST $ 2500 BY THIRD FIRST QUARTER 2009, I.E AT CURRENT RUPPEE LEVELS COULD TEST RS.120 WHICH IS THE LOWEST COPPER HAS TOUCHED SINCE COMMENCEMENT OF MCX TRADING IN 2004.HOWEVER ADDITIONAL SOPS BY CHINA AND USA COULD HOLD AT CURRENT LEVELS, TODAY EXPECTED
TO TEST 170 TO 171 LEVELS.
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