Copper Keeps Momentum, Gains 0.86%
Fore More Update Visit>>>-: www.ripplesadvisory.com
Copper ended the session on 20 Feb 2017 at INR 403.65 per kg, up
0.86%. The prices tested a high of INR 407.45 per kg and a low of INR
400.70 per kg. Technical charts suggest that breach above INR 405 and
407 per kg will be beneficial for Copper.
Commitment of trader's
report was released Friday and will be critical for Copper in the coming
days. The Money Managers were interested in decreasing their short
positions along with long positions. Meanwhile the situation for
merchants and producers were similar as there as well the longs and
short positions were on a decline.
The total long positions of
Merchants were 37823 pounds on 14 Feb 2017 compared to 42612 pounds on 7
Feb 2017, down 4789 pounds. On the other hand, short position of Copper
were down 9090 to 120932 pounds on 14 Feb 2017 from 130022 pounds on 7
Feb 2017.In case of Money Managers, the total long positions were
115276 pounds on 14 Feb 2017 compared to 115642 pounds on 7 Feb 2017,
down 366. The short positions of Copper were 26720 pounds compared to
30186 pounds on 14 Feb 2017, down 3466 pounds.
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