Technical Comment For The Day: Copper 13-Feb-2014


MCX Copper closed at Rs 445.85 per kg , up Rs 3.95 per kg. Once again a bounce from supports near Rs 442-441 levels was seen in Copper. The prices tested a intraday high of Rs 446.25 per kg, and a low of Rs 442.5 per kg. The next resistance zone for Copper is at Rs 448 per kg. The intraday high for Copper was at Rs 446.25 per kg. Prospects of breaking Rs 440 on the lower side still look dull. The 200 day EMA of Rs 446.7 is active in Copper, breaking this will mean further highs. COMEX Copper traded at $ 3.24 per pound, when last checked, up 0.8 cents.