MCX Copper Tips – Below 444 Sell 100-500 Lots Target 428— 422— 418 levels – Neal Bhai Reports
Any Rise Sell Sell Sell Trade With Stop Loss
NEAL BHAI REPORTS – 9899900589 & 9582247600
Technical Power of CFA’s
(CHARTRED FINANCE ANALYST)
“No Magic, No Miracle, Just Power of Level”
Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team
Mobile No. 9582247600 & 9899900589
Copper prices are expected to stay at highs as a ceasefire in the US-China trade war, the Fed’s dovish tone and expected oil supply cuts prompt investors to shun safe-haven US currency and to turn to riskier assets.
Copper on MCX settled up 1.96% at 441.60 were mostly higher with broadly positive market sentiment emerging from the weekend’s summit in Argentina of the leaders of the G20 group of nations, while the United States and China agreed to limit further use of trade tariffs.
LME copper’s three-month price has remained in positive territory for much of the November-December trading period, staying above $6,200 per tonne and rising by 1.5% on Monday, while volumes topped the complex with 23,759 lots changing hands by the close.
The US agreed not to increase the 10% tariffs on $200 billion worth of Chinese imports on Jan. 1 following talks between U.S. President Donald Trump and his Chinese counterpart Xi Jinping over the weekend. If no new agreement is reached in this time the 10% tariffs will be raised to 25%.
This week metals traders will be monitoring trade developments after the U.S. and China agreed to a ceasefire in their trade war, while awaiting fresh indications on the direction of U.S. monetary and an update on the health of the U.S. labor market.