COMMODITY COPPER MARKET UPDATE

Copper on MCX settled down -0.06% at 311.1 as prices recovered to settle flat after prices dropped pressured by the dollar which rose on renewed expectations of further U.S. interest rate hikes.

 

Also pressure seen the total net long position of funds trading copper on the London Metal Exchange fell to 30,023 lots on May 13 from 35,792 lots the previous Friday, the LME's COTR showed on Tuesday. Funds overall were long 130,515 lots and short 100,492. 

 

  Copper may average $6,330 a metric ton after 2018, said Sergio Hernandez, executive vice president of the Chilean Copper Commission. We are provide MCX market tips and two day free trail to content this no 9827808090.

 

 Technically now Copper is getting support at 307.7 and below same could see a test of 304.1 level, And resistance is now likely to be seen at 313.2, a move above could see prices testing 315.1.          

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