Technical Comment For The Day: Copper 25-Feb-2014


Copper, goldsilverreports.comThe decline was expected in Copper and the same happened on 24 February 2014, Monday. The prices of benchmark MCX Copper opened in red and maintained the same flow in the remaining part of the day. After the last session debacle, it becomes crucial that Copper remains floating above Rs 441 per kg. This is a important support zone, breaking which Copper can easily slip towards Rs 435 and 428 levels in coming days. Importantly, prices managed to recover a bit and got settled at Rs 446.4 per kg. However, the problem for Copper is that its 200 day EMA was breached last night that was set at Rs 446.9 per kg. On the higher side, Copper is expected to be sold from Rs 451-452 per kg.