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Technical Comment For The Day: Copper

Copper Technical Comment

Technical Comment For The Day: CopperThe lower highs formation of Copper continues to trouble the prices and after the decline in the last session, February expiry contract of Copper is expected to remain in a dull zone. The prices of MCX Copper closed the last session trading at Rs 390.7 per kg on 28 November 2014. Further losses in the metal are expected to take prices to June 2014 levels of Rs 380 per kg. On the higher side, resistance for MCX Copper is at Rs 405 per kg. The breach of Rs 400 can be very fatal for the prices as it will mean breach of double bottom formation.

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