Tuesday, February 7, 2012

Copper Updates (Tips and Trend) For Today: 7th Feb '12

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In base metals it has mixed business. Aluminum, Copper, Nickel in the fall. However, lead and zinc have rose 0.25 to 0.75 per cent. Copper on LME business is slow. Light copper in the domestic market on Monday closed down around Rs 419.

Copper prices are trading within the channel, prices can tested the support at 414 -413. Prices are expected to trade within 413 - 420. oscillators are turning down. Copper prices declined, pressured by of a stronger dollar and European debt-contagion fears, after the failure of Greece to approve the terms of a new bailout package. Copper futures for Dec. delivery closed slightly down at $3.8645 per pound on the COMEX division of the New York Mercantile Exchange.

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