Wednesday, July 11, 2012

Crude and Copper Updates For Today

Copper Updates

Copper updates says taht it is trading in a consolidate to down trend. Copper finished last week under pressure with disappointing US NFP figures neither bad enough to spark hopes of significant and imminent QE measures, or good enough to suggest the US economy is doing anything more than drifting along. Copper failed to trade above 426 marks as this is a good resistance. A move beyond that could see 428 and 431 respectively. Support around 422 and 418. Copper updates for today is to sell it on higher levels.

Crude Updates

MCX Crude was down by more then 1 per cent. Latest crude updates are crude Oil markets breathed a sigh of relief on news of the intervention of Norway govt to call off the strike and crude prices dropped in early Asian trade. But still there is concern over Iran and that can boil the oil price again.
MCX Crude updates are crude is weak bellow 4790 level. Support at 4720 and 4650 and resistance at 4790 and 4870

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