Posted by Bhupendra Adhav on Tuesday, October 5, 2010
Technical Analysis COPPER
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
COPPER 411.95 396.65 381.35 375.20 366.05 359.90 350.75 335.45 320.15
Copper is in an upward consolidation phase and traders should use the strategy of buying on lower levels. If next week COMEX Copper sustains above the level of 355 then above the level of 379 Copper can test the level of 390. In MCX Copper above 372 Copper can test the level of 383 if it does not break the level of 347 on the downside.
For the upcoming week 379 and 391 will act as major resistance and 334 and 316 will act as major supports in COMEX Copper. For MCX Copper major resistance would be 372 and 388 and supports would be found at 347 and 328.
at 7:10 PM
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