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Friday, July 31, 2009

copper

China's major copper smelters have not concluded spot copper concentrate imports this month as they hold out for higher treatment and refining charges which have fallen to $20 and 2 cents, an official at the China Smelters Purchase Team said.

For today market is looking for the support at 266.30, a break below could see a test of 259.70 and where as resistance is now likely to be seen at 276.50, a move above could see prices testing 280.20.

Trading Ideas:
COPPER TRADING RANGE IS 255-290.
CHINA COPPER SMELTERS HALT SPOT CONCENTRATES IMPORTS.
COPPER A JUMP TILL 278 WILL BE THE GOOD LEVEL TO TAKE SELL FOR TGT 270-272 LEVEL. BUY COPPER ABOVE 273.50 SL 272.50 TGT 274.60-275.80-277. MCX SOME PULL BACK CAN BE SEEN DURING THE DAY IMPORTANT SUPPORT IS AT 271.50 LEVEL.YESTERDAY LME STOCK FOR COPPER CAME Down BY -300
Posted by appleadvisory at 7/31/2009 12:53:00 AM

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