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
$1.02 |
Change
0.070(7.37%) |
Mkt cap ! $95.83M |
Open | High | Low | Value | Volume |
95.0¢ | $1.03 | 95.0¢ | $62.97K | 63.29K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 205347 | $1.00 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.03 | 6351 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 205347 | 1.000 |
1 | 4916 | 0.990 |
1 | 46 | 0.950 |
1 | 5303 | 0.940 |
1 | 3200 | 0.930 |
Price($) | Vol. | No. |
---|---|---|
1.025 | 6351 | 1 |
1.040 | 2127 | 1 |
1.070 | 5000 | 1 |
1.080 | 195 | 1 |
1.085 | 3200 | 1 |
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