May 10, 2011

Commodity MCX Copper For May 10

Commodity Copper MCX contract for June showed gains on short covering for Saturday end session as after prices on Friday out a modest gain after upbeat U.S. employment data helped calm commodity markets spooked into free fall on Thursday by fears of slowing growth in the world's No. 1 economy.

The Commodity market for today is looking for the support at 397.5, a break below could see a test of 395.2 and where as resistance is now likely to be seen at 406.7, a move above could see prices testing 409.6.

Commodity Copper MCX Trading Range 395.2-409.6.

Copper (MCX) buy at Target Price: 402 with the SL of 397 and Wait for targets of T1 409, T2 413. 

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