The commodity Copper April future prices witnessed negative flow on yesterday’s trading session by declining as much as 2.1% from previous close.
The commodity Copper future made an intra day high of 434.85 levels thereafter it started down falling and settled lower at 423.55 levels. The resistance for commodity copper is seen at 426 levels sustain below the same it is expected to remain lower at MCX and NCDEX.
The noted down RSI (14) daily for copper at MCX and NCDEX is ended at 0.40 levels and showing a lower potential. Copper 3M LME prices are at 9430 levels up by +54 dollars. A mild higher correction could be seen at MCX.
However, sustain below the mentioned resistance levels would lead the prices to remain lower. In commodity copper recommend selling near resistance levels is suggested.
Copper MCX: Sell April at 425 TP 418 SL 427.50
WORLD MARKET HANG SENG-20.55, NIKKE -10.76, SHANGHAI-2.44 DOW -30.88 NASDAQ -4.28,SGX NIFTY +4.5
NIFTY SPOT LEVELS SUPP 1: 5785 SUPP 2: 5735 RES 1: 5877 RES 2: 5920
BANK NIFTY LEVELS SUPP 1: 11557 SUPP 2: 11408 RES 1: 11877 RES 2: 12050
GOLD RECOVERS AS DOLLAR SLIPS, MIDEAST SIMMERS.
The commodity Copper future made an intra day high of 434.85 levels thereafter it started down falling and settled lower at 423.55 levels. The resistance for commodity copper is seen at 426 levels sustain below the same it is expected to remain lower at MCX and NCDEX.
The noted down RSI (14) daily for copper at MCX and NCDEX is ended at 0.40 levels and showing a lower potential. Copper 3M LME prices are at 9430 levels up by +54 dollars. A mild higher correction could be seen at MCX.
However, sustain below the mentioned resistance levels would lead the prices to remain lower. In commodity copper recommend selling near resistance levels is suggested.
Copper MCX: Sell April at 425 TP 418 SL 427.50
WORLD MARKET HANG SENG-20.55, NIKKE -10.76, SHANGHAI-2.44 DOW -30.88 NASDAQ -4.28,SGX NIFTY +4.5
NIFTY SPOT LEVELS SUPP 1: 5785 SUPP 2: 5735 RES 1: 5877 RES 2: 5920
BANK NIFTY LEVELS SUPP 1: 11557 SUPP 2: 11408 RES 1: 11877 RES 2: 12050
GOLD RECOVERS AS DOLLAR SLIPS, MIDEAST SIMMERS.
