copper has critical supports at 159.20, and 158 ; a breakdown below these levels on a closing baisis for 2 days can take it to 154 levels ;howver a chart formation over lats 2 months shows that if 158 not broken, given that contract expiry is 11 days away, on the upper sidea break above 174, cld take it to 185 plus levels. but the economic scenario seems very bearish for base metals, and hence hold shorts as of now till further advise of contra. akshaya
dear sir, due to japanese industrial production down in jan, the copper resisted at 172, not bother about obama's stimulus package. monday traded as your range. what we expect in 17/02/2009. senthil
COPPER STILL APPEARS WEAK AS OF NOW.TODAY THE GROUP OF 7 COUNCIL OF MINISTERS MET AND CONCLUDED THAT 2009 WOULD CONTINUE TO BE VERY BAD!!!AS OF NOW ARE TARGETS FOR COPPER ARE 160.60, 159.20 AND 158. AKSHAYA
9 comments:
hello sir, i want to take long position in copper for 3% to 5% in your view what is the right price to take a long position.
vishal, wait for a bit of correction, we shall update you.any case new york is closed today.right price could br around 158 to 160.
akshaya
dear sir , i had shorted copper at 154.00 , will it come tht positon or what is the maximum down can i expect if it will come down
chirajeevi,
copper has critical supports at 159.20, and 158 ; a breakdown below these levels on a closing baisis for 2 days can take it to 154 levels ;howver a chart formation over lats 2 months shows that if 158 not broken, given that contract expiry is 11 days away, on the upper sidea break above 174, cld take it to 185 plus levels.
but the economic scenario seems very bearish for base metals, and hence hold shorts as of now till further advise of contra.
akshaya
dear sir, due to japanese industrial production down in jan, the copper resisted at 172, not bother about obama's stimulus package. monday traded as your range. what we expect in 17/02/2009.
senthil
sir then can i wait till 159.00 levels, or else can i squre off this position
at this level around 159
CHIRANJEEVI,
AS OF NOW KEEP A STOP AT RS 164.80.
AKSHAYA
SENTHIL
COPPER STILL APPEARS WEAK AS OF NOW.TODAY THE GROUP OF 7 COUNCIL OF MINISTERS MET AND CONCLUDED THAT 2009 WOULD CONTINUE TO BE VERY BAD!!!AS OF NOW ARE TARGETS FOR COPPER ARE 160.60, 159.20 AND 158.
AKSHAYA
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