Showing posts with label copper weekly trend. Show all posts
Showing posts with label copper weekly trend. Show all posts

Monday, August 29, 2011

MCX copper trend and mcx trading strategies

MCX commodity weekly strategies:
Gold:
For the next week traders can use buy on lower level. If Gold above 28000 it can test the level of 28400.Trade by keeping the strict stop losses. Major support in MCX Gold is 25500 and 24700 Major resistance in MCX Gold is 28400 and 28900.
Silver:
MCX Silver sustains above 60800 above it can test the level of 65000/66000/67000 and above 67800 it can test the level of 69000/70500. Trade by keeping the proper stop losses.
Crude Oil:
For the next week traders can use buy on lower level strategy, MCX if Crude sustains below 3800
then above 4060 it can test the level of 4130/4190in this week. Trade by keeping the proper stop loss.
Copper:
Copper is in a consolidation phase and traders should use the strategy of buy on lower levels.
MCX Copper major resistance would be 425 and 435 and supports would be found at 400and 385.

Monday, August 1, 2011

MCX Copper Tips and trend for 1 Aug

Commodity market opened positive COMDEX opened at 3524.23 and MCXMETAL opened at 4745.68
The Copper is in perfect uptrend, We recommend buying copper for small targets for the day.

Buy copper above 440.60 (Aug contact)
Target: T1: 441.20, T2: 441.80
Stoploss: 440

Copper weekly trend (1-6 Aug)
Copper is in a consolidation phase and traders should use the strategy of buy on lower levels. Last week COMEX Copper was down for most part of the week. If next week COMEX Copper does not sustains below the level of 440 then above the level of 450 Copper can test the level of 457.

Copper weekly support and resistance levels
Copper support levels if copper touch S1: 439.00, S2: 431.0, S3:420.
Resistance levels if it touch R1: 451, R2: 458, R3: 466.