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Sunday, May 1, 2016

COPPER UPDATES FOR MAY 1 2016

SUNDAY



WEEKLY UPDATE




Mcx copper last week dropped from 335 levels to 323 levels and recoverd back to close


near 335 levels, immediate resistance for the commodity is at 335 levels and supports


for the commodity is at 330 levels, above 335 levels we expect prices to test 340 levels


immediately and any close above 340 then trend to continue up to 359 levels,


buy on close above resistance is advisable.



Weekly Call :



Buy Mcx Copper only on close above 335



and add further on dips up to 332



with SL below 328


for target 342,


and add further on close above 343



with stops at cost for extended targets up to 350 – 355 – 359.(Positinal)




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