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MCX Copper negative, traders may short near 415; Comex Copper negative
July 26, 2013
12:25 pm
Harrey Martin
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Forum Posts: 74
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May 8, 2013
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For intra-day, support for MCX copper is seen at 411 and 409 levels while resistance is seen at 416 and 420 levels. MCX copper for August delivery was seen trading down by 0.96% at Rs.413.50 per kilogram as of 01.44 PM IST on Friday.

The trend in copper futures for August delivery on India's Multi Commodity Exchange (MCX) is negative and traders are advised to take short position for the day. Copper futures on Globex platform of Comex is also seen trading negative on Friday.

“For intra-day, support for MCX copper is seen at 411 and 409 levels while resistance is seen at 416 and 420 levels,” said Tarng Parmer, Research Analyst at Commodity Online.

“Intra-day traders may take short position near 415 with stop loss above 419 level for the target at 411 and 409 levels,” he noted.

MCX copper for August delivery was seen trading down by 0.96% at Rs.413.50 per kilogram as of 01.44 PM IST on Friday.

Read more: http://goarticles.com/article/…..e/7776089/

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