Tuesday, 15 March 2011
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MCX Copper may advance on technical revival
AHMEDABAD (Commodity Online): MCX Copper April contract traded above 10 days linear regression. It tested lower levels of 411.60 during the previous week. It traded within the range of 412-424 during last few trading sessions.
MCX Copper April contract opened at 423.05 per Kg. It tested intraday low of 415.50 and last traded at 420. The contract faces resistance near 445 while its support is seen near 416.
Short term traders can buy MCX Copper April contract above 425 with stop loss of 415 and can wait for target of 440.
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