LME Copper buying opportunity at 4850-4900
02 June 2009 14:55:51
The three month forward prices on London Metals exchange advanced to $4827 levels after posting a low of $4480. Market closed the week firm at $4795 levels. Prices are finding bullish strength after moving out from the consolidation phase of the bullish triangle pattern.
The immediate resistance is seen at $4925 levels and breach of the same may confirm a move towards $5400-$5500 levels in the short term. The support of $4450 should keep the short term bull trend alive. We recommend taking long positions on dips as a weekly trading strategy.
Weekly Outlook: Copper is expected to trade firm this week. Buy Copper at 4850-4900 targeting 5400 with stop loss at 4490 levels.
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Last
83.0¢ |
Change
-0.010(1.19%) |
Mkt cap ! $77.98M |
Open | High | Low | Value | Volume |
84.0¢ | 84.0¢ | 83.0¢ | $7.664K | 9.209K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 135 | 83.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
84.0¢ | 6478 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 27717 | 0.825 |
1 | 242 | 0.820 |
1 | 896 | 0.815 |
1 | 7849 | 0.810 |
5 | 5574 | 0.800 |
Price($) | Vol. | No. |
---|---|---|
0.840 | 6478 | 5 |
0.845 | 55413 | 2 |
0.850 | 2212 | 5 |
0.890 | 1250 | 1 |
0.900 | 3500 | 1 |
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