Technical Comment For The Day: Copper 20-Feb-2014

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gsr-04The closing of Copper in the last two days have been identical. Having said that, the prices of Copper have been slowly moving forward. MCX Copper closed at Rs 451.4 per kg , up 0.80%. The move above Rs 453 will take Copper towards Rs 460 per kg. The potential of Copper moving past its resistance is high as the trading volumes and interest remains stable. Looking at the supports, Copper now seems comfortable to remain above Rs 448 per kg. Till that level is intact, Copper is expected to keep moving higher. The 200 day Exponential moving average of Rs 446.93 per kg is still getting respect on the closing basis.