Weekly Report Commodity 04th Oct 2010 to 09th

Posted by Bhupendra Adhav on Tuesday, October 5, 2010





Technical Analysis COPPER

Weekly Pivots                                                                                                                                  

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 

Weekly Chart



Market Overview

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.

Strategy

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. 



MCX Tips for Today

Here we daily post MCX Tips for Today for Bullion Commodity Gold Silver, Energy Crude Oil and Natural Gas and Base Metals - Copper, Zinc, Aluminum, Lead and Nickel Tips trend and trading levels for today.
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