Copper Technical Comment For 29 July 2015

MCX Copper June expiry contract gained marginal ground for session ending 28 July 2015. Copper moved just a shy above Rs 340. The prices trading above Rs 340 can cause some more long positions to be built. On 28 July 2015, Copper ended the day at Rs 341.40 on against 336.15 per kg on 27 July 2015. The progress got a halt. Potential of Copper reaching close to Rs 330 is vulnerable at this juncture as it has to breach Rs 335 per kg. On Wednesday trading gains are expected to get resisted at Rs 345 and 347 per kg. Meanwhile support for Copper is at Rs 338 and Rs 335 per kg. The low for Copper on Tuesday was at Rs 335.75 per kg, and a high of Rs 342.60 per kg was noted. Open interest was at 20756 against on 22275 on 27 July 2015.
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