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MARKET ALERT

Copper both in international and in mcx has given a breakout 

and was heading to test its previous high, both fundamental

 and technical looks bullish , fundamental part is that Chinese

 had build up their inventories in the last six months ,

the amount of accumulation is more than that of expectation,

 on technical part already prices are well above 450 levels 

and the week close was at 467 levels ,

 one can see from the above chart that prices are trading at 

two years high which is considered as very strong resistance 

line and level, only a decisive break and close above the level 

will be considered as a good buy opportunity

 to test 485 , 493 and 498… 

Positional, 

Weekly call :

Buy copper only on close above 468

 and add further on dips up to 460

with stops below 449.5

 for targets 485 ,493 and 498.

High risk traders only for bears who can take a risk to keep the

 resistance as stops can sell the commodity at 467

 and on rises up to 469 with stops above 472

for targets 462 and 460

(We recommend only a strong buy in the commodity though

for bears we flashed this call to take the short term opportunity)