Technical Comment For The Day: Copper 21-Feb-2014


gsr-02The skewed trading range continued in Copper with prices trading at Rs 451 and 447 per kg. The settlement of Copper was at Rs 449.75 per kg. A falling star has been formed in Copper after three consecutive candles showing rise in the prices. The metal is yet again in a confusing zone where the supports are getting bought and resistance is getting sold. The range is getting respect as Rs 451 per kg is the 100 day Exponential Moving Average for Copper while 200 day Exponential Moving Average is at Rs 447 per kg. COMEX Copper March delivery was trading at $ 3.28 per pound, up 0.5 cents.