opper prices rose by 0.50 per cent on Friday at the domestic markets after an acceleration in US manufacturing in April and the biggest gain in consumer spending in nearly five years in March 2014, signaled an improving outlook for the world’s biggest economy, supporting the demand prospects for the metal.
The gauge measuring US manufacturing rose to 54.9 in April from 53.7 ..MCX live Tips on various resources like Gold, Silver, Copper, Crude oil. Every single suggestion that we make will take you a step ahead in the MCX Commodity Market. Moreover, if you want the MCX Tips to follow you through your entire day, you must make use of our MCX Commodity trading strategies. Our experts have always kept an eye over the MCX Live rates. As the rates swipe through diverse boundaries, we will give a clear overview of how you should respond to the Commodity Market rates.
MCX COPPER JUNE (CMP – 411.55 / $ 6,699)
MCX Copper June as seen in the weekly chart above has opened at 421.05 levels and during this week prices made a high of 422.20 levels. During this week prices corrected sharply towards the low of 405.55 levels and at the end of the week prices bounced back from near to the support of 405 levels and finally closed 1.90% lower on 411.55 levels. During this week prices have closed below previous week’s closing of 419.50 levels and as per candlestick it formed a “Bearish candlestick” pattern which indicates bearishness.
For the next week we expect Copper prices to find support in the range of 405 – 404 levels. Trading consistently below 404 levels would lead towards the strong support at 398 levels and then finally towards the major support at 392 levels.
Resistance is now observed in the range of 420 - 422 levels. Trading consistently above 422 levels would lead towards the strong resistance at 427 levels, and then finally towards the major resistance at 434 levels.
MCX / LME Copper Trading levels for the week
Trend: Sideways
S1 – 404 / $ 6,620 R1 – 420 / $ 6,880
S2 – 398 / $ 6,520 R2 – 427 / $ 7,000
Weekly Recommendation: Sell MCX Copper June between 418 – 422, SL- 427, Target – 405 / 404
Trading on the NIFTY options the investor or trader should have deep knowledge about options trading because it is a very risky stock market, a little mistake can put you on losing side as per the info from Epic research.
ReplyDeleteGold prices rose by Rs 85 to Rs 27,185 per ten gram in the national capital Tuesday as buying activity picked up at prevailing level amidst a firming global trend.
ReplyDeletemcx crude oil tips provider
BANK NIFTY TREND- CONSOLIDATE RES1:17300 RES2:17500 SUPP1:17000 SUPP2:16800 STRATEGY- BUY ON DIPS \
ReplyDeletenifty option trading tips
THE EQUICOM CALL: SELL SILVER (MAR.) BELOW 37140 TG-37050/36900/36700 SL-37350
ReplyDeleteMCX commodity trading tips