COPPER (AUG)
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COPPER (AUG)
RaahiShah Fri Aug 03, 2012 4:14 pm
COPPER (AUG)- London copper steadied on Friday but was still set for its biggest weekly
loss in two months after European Central Bank inaction disappointed markets and as
worries over global growth dragged on the outlook for metals. Three-month copper on the
London Metal Exchange traded at $7,348 a ton by 0305 GMT, up 0.25 percent from the
previous session, when it hit its lowest since June 22. Expected resistance and support
level for today trade are as follows.
TREND BEARISH
SUPPORT 1: 408.70
SUPPORT 2: 404.30
RESIST 1: 415.00
RESIST 2: 420.00
Commodity Tips
loss in two months after European Central Bank inaction disappointed markets and as
worries over global growth dragged on the outlook for metals. Three-month copper on the
London Metal Exchange traded at $7,348 a ton by 0305 GMT, up 0.25 percent from the
previous session, when it hit its lowest since June 22. Expected resistance and support
level for today trade are as follows.
TREND BEARISH
SUPPORT 1: 408.70
SUPPORT 2: 404.30
RESIST 1: 415.00
RESIST 2: 420.00
Commodity Tips
RaahiShah- Posts : 204
Join date : 2012-02-13 -
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