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      Technical comment for the day: Copper

      MoM Team / Mumbai, Jan 11, 2017 09:25 AM IST

        Technical comment for the day: Copper

        Copper had a bull rally for the trading session ending Tuesday. The prices of Copper underpinned by more than 3.1 percent.

        Copper benchmark contract ended at Rs 395 per kg, up INR 12. The prices tested a high of Rs 396.7 per kg and a low of Rs 384.4 per kg.

        The prices are resisted at psychological levels of Rs 398 per kg. The prices are supported at Rs 391 and 385 per kg. Breaking Rs 398 per kg would mean breach of rounding bottom pattern.

        This would mean that a rally towards Rs 410 per kg will start for medium term.


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      Source: Capital Market



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