The commodity copper future prices for April contract witnessed upside trend by reversing the previous trend. After making a high of 427.8 it started declining and settled at 421.30 levels.
In commodity trading below the daily moving averages (8, 21 & 34) suggests downside potential. However, RSI (14) daily ended at 0.33 levels and showing a recovery from oversold zone. Only a sustained commodity trade above 425 levels may lead the prices to rise further.
At LME commodity copper prices are trading at 9236 and trading flat. Market is witnessing a resistance at 9300 levels, which would be a crucial level to watch for. We expect sideways movements.
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In commodity trading below the daily moving averages (8, 21 & 34) suggests downside potential. However, RSI (14) daily ended at 0.33 levels and showing a recovery from oversold zone. Only a sustained commodity trade above 425 levels may lead the prices to rise further.
At LME commodity copper prices are trading at 9236 and trading flat. Market is witnessing a resistance at 9300 levels, which would be a crucial level to watch for. We expect sideways movements.
Enjoy this Holi by Grabing a great Free Trail for Commodity Tips Clickhere
WISH YOU A HAPPY HOLI
