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MCX Copper Tips
Copper closed higher for the second-straight day, in a very thin volume session, as cautious investors awaited word on a widely expected Greek debt-restructuring deal and a key jobs report from the United States. Copper futures for Dec. delivery closed slightly higher at $3.7915 per pound on the COMEX division of the New York Mercantile Exchange. MCX Copper may note some gains tracking international exchanges however the upside remains capped. LME Copper trades higher in early trades today amid easing concerns over debt crisis in Greece after 85% of bondholders agreed to swap their holdings of the country`s debt for new securities.
MCX Crude Tips
Crude oil prices traded positively on speculation over increases in fuel as Greece moves closer to completing a debt swap to ease Europe’s crisis and as the US labor market improves. Copper prices have witnessed the important support at 418, prices are expected to test the hurdle at 426 -427. A sustained move above 427 should witness fresh buying in the metal. Benchmark crude rose 42 cents to end at USD 106.58 a barrel in New York. Heating oil rose 5 cents to finish at USD 3.27 per gallon and gasoline futures increased 3 cents to end at USD 3.31 per gallon.
Here are some intraday technicle levels and tips for today-
| COMMODITY | MONTH | CLOSE | S2 | S1 | R1 | R2 | TRADING VIEWS |
| Copper | APR | 422.55 | 417.5 | 419 | 425 | 427 | Buy Around 421.5, Sl 418.25, Tgt 425 / 426.75 |
| Crude Oil | MAR | 5356 | 5265 | 5300 | 5385 | 5420 | Buy Around 5325, Sl 5280, Tgt 5375 / 542 |
