Continuing the bullish trend Copper extended the rally last week and made the high of Rs. 447. Nearterm outlook remains positive as long as the prices hold the support of 436 levels and on higher side target for this upward move comes around 452. A strong close on weekly basis will further strengthen the movement in copper in coming days.
MCX Copper Trend for 1st May '12
Copper is trading at 446 level. The Copper is in perfect up-trend . Currently Copper is in strong up-trend with good momentum and high volume. The open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY. Positionally Support for the Copper is 436-432-428. Immediate resistance for Copper is 450-454-458.
