Friday, February 3, 2012

MCX Copper Updates For Today: 3rd Feb '12

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Copper futures fell for the fourth time in five sessions in New York amid signs that demand may ease in China, the world's biggest buyer of industrial metals. Lead and aluminum fell more than 3 percent in London. Copper futures for March delivery declined 1.6 percent to settle at $3.781 a pound at 1:23 p.m. on the Comex in New York. The metal has dropped 17 percent in the past 12 months.
Our research report said that mcx copper will continue the same down trend. It has a resistance of 418 and a support level of 400. We suggest that copper is trading in a down trend in its last 3 trading sessions. It will be a good deal to sell copper on its high nodes.


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