London copper rose on Tuesday as the London Metal Exchange resumed trading after a one-day holiday, with sentiment improving on hopes Spain would use public funds to bolster its struggling banks.
In MCX Copper as long as 434/433 regions holds the downside support expect a pull back towards 440-442 levels. Break below 432 would call for a dip towards 429/427 areas. However, major bullish run could open on consistent trades above 444 targeting 449/452.
Currently Copper is in HOLD SHORT position The Copper is in downtrend For short term buy only if close above 442 The Copper is now trading is approaching oversold level. The Copper is now trading is approaching oversold level. The oscillator is showing BUY signal.
Intraday Trend- Buy is advised above 440.8 with a stop at 433.5, Below 431.3 go for sell.
