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Sunday, February 16, 2014

MCX COPPER UPDATES FOR FEB 16 2014

SUNDAY


We discussed lot about copper , copper continue to trade in the same range

 between 441 to 447 , which is short term supports and resistance, either

 break will give a rally till that market is expected to trade in the same range

,however prices have shown a movement in last week to break its resistance 

but could not able to gain a pace to break the resistance , so we strongly feel 

that any rise in the commodity is and opportunity to sell for targets 441 and

 close below 441 will be a free fall, at the same time any decisive breakout 

above 451 levels then cut down all your short positions and turn for buy..

Weekly call :

Sell copper at 446 and add further on rises up to 449 

with stops above 451 

for targets 441, 436