WELCOME TO APPLEADVISORY

Wednesday, August 5, 2009

copper

 Copper shrugged off early profit-taking and rallied into the close, extending their 10-month high on short-covering amid bullish economic sentiment and a strong technical picture.

Atlas Consolidated Mining and Development Corp, the Philippines' second-largest miner, plans to increase copper concentrate production at its Toledo mine as it ships more of the concentrate to China.

For today market is looking for the support at 284.40, a break below could see a test of 278.10 and where as resistance is now likely to be seen at 294.90, a move above could see prices testing 299.10.

Trading Ideas:
COPPER TRADING RANGE IS 275-305.
PHILIPPINES' ATLAS TO RAISE OUTPUT AT COPPER MINE.
BUY COPPER AUG @ 290-291 SL 288.80 TGT 292.20-293.70-295.20.MCX
NOW RES IS AT 292.80 ABV THIS NEXT RES IS AT 294.60-296.20 LVL
TECHNICALLY COPPER IS NOW IN OVERBOT SITUATION SO SOME PULL DOWN CAN BE SEEN
Posted by appleadvisory at 8/05/2009 04:20:00 AM

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)

DISCLAIMER

APPLEADVISORY do not make any warranties, express or implied, as to results to be obtained from using the information in this blog. Investors should first aware of his investment capabilities like the type of trader he is and risk he can bear, before making any investment decisions based upon information in this report. There is no guaranteed recommendations made herein, do not constitute an offer to sell or buy any securities mentioned. Readers are fully responsible for their actions, Information provided in the BLOG are deemed to be reliable source and fully technically analyzed.