Copper Technical Comment For 21 Apr 2015

MCX Copper futures dropped heavily yesterday as two week highs around Rs 387 per kg failed to sustain. The counter tested lows under Rs 380 per kg in a sharp intraday downswing of around Rs 8. The counter has pared some of the gains witnessed after recovering from a four week low last week. Correction should extend today with highs around Rs 383/384 building intraday shorts. A break under Rs 379 would accelerate the downswing.
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