Friday, February 20, 2009
UPDATES ON FEB 20 2009
FEB 20 FRIDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 159 , S2 RS 156 , S3 RS 153.40
R1 RS 163.60 , R2 RS 166 , R3 RS 168
WAIT FOR CONFIRMATION.
Copper for three months delivery under the LME rose
as high as $ 3349.75 a tonne - a jump of more than
3 $% but pared gains to close at $ 3290.
Copper for March delivery on the Comex division
rose 3.50 cents to settle at 1.4710 a lb.
The commodity for trade under the MCX India ended at Rs
166.50 levels.
Copper prices settled higher , extending a rebound from the
previous sessions slide to a 21/2 week lows on a weaker dollar.
The metal for trade under the MCX might see support at
162 levels while the resistance might be seen at
Rs 170 levels.
Copper tends topose a weaker outlook along the bearish
trend as the recent gains look fragile with the stock
piles of the metal climbing again and a grim economic
picture increase demand concerns.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 159 , S2 RS 156 , S3 RS 153.40
R1 RS 163.60 , R2 RS 166 , R3 RS 168
WAIT FOR CONFIRMATION.
Copper for three months delivery under the LME rose
as high as $ 3349.75 a tonne - a jump of more than
3 $% but pared gains to close at $ 3290.
Copper for March delivery on the Comex division
rose 3.50 cents to settle at 1.4710 a lb.
The commodity for trade under the MCX India ended at Rs
166.50 levels.
Copper prices settled higher , extending a rebound from the
previous sessions slide to a 21/2 week lows on a weaker dollar.
The metal for trade under the MCX might see support at
162 levels while the resistance might be seen at
Rs 170 levels.
Copper tends topose a weaker outlook along the bearish
trend as the recent gains look fragile with the stock
piles of the metal climbing again and a grim economic
picture increase demand concerns.
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6 comments:
sir wat u say for copper will itgo up
ATTENTION MR ROHIT
Copper will go up only if it breaks and sustains above Rs 163.50.
AKSHAYA
Today Copper Test 159 Level
Or Not
Cmp (161.10)
ATTENTION MR ROHIT
Copper is now trading in a narrow range between Rs 160 and Rs 162.
Only if it breaks Rs 159.50 there could be some down side .
Only if breaks Rs 163.50 there could some upside.
ATTENTION MR ANURAG
Copper is trading in anaroow range neither breaking support nor resistance.
Support is at Rs 159.50.
Resistance is seen atRs163,50.
Wait for confirmation.
AKSHAYA.
HAVE GIVEN COPPER CALLIN BLOG,YOU MAY REFER.
AKSHAYA
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