India: Copper future will gain, buying recommended

AHMEDABAD (Commodity Online): MCX Copper June contract ended flat Saturday after rising Friday as a weaker dollar boosted prices, but pared gains as poor U.S. data underlined a patchy global economic outlook that suggested its advance may falter. Copper on LME hit $9,238, its highest since May 4, as the euro climbed to a session high against the dollar.

For today's session MCX Copper June contract is looking to take support at 412, a break below could see a test of 408.3 and where as resistance is now likely to be seen at 419.7, a move above could see prices testing 422.9.

Copper June futures trading range is 408.3-422.9.

Intraday traders can buy MCX Copper June contract near 410 with the stop loss of 406 and can wait for the targets of 414 and 418.

Source: http://www.commodityonline.com/marketmovers/Copper-future-will-gain-buying-recommended-2011-05-30-3597-3-1.html