April 04, 2011

Commodity Copper Report For April 04

The commodity Copper report for MCX trading lower yesterday and made a low of 420.10. However, copper settled marginally higher at 425.

In the commodity MCX daily chart copper fails to close above the short and medium term moving averages suggesting bearishness in the trend.

In MCX 4 hourly commodity chart trend reversal chart pattern is witnessed suggesting bearishness in the commodity copper trend.

LME copper is trading at 9410 (-68) suggesting down side opening in the Indian market also. Overall we expect copper to remain lower for the day and suggest selling.
Copper MCX: Sell April at 426-27 TP 421 SL 429.70 

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