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Copper Technical Comment for 25 June 2015


MCX Copper June expiry contract gained for second straight session on the back of short covering. Prices moved above Rs 367 per kg breaking a series of support that were formidable in last one week. Copper ended the day at Rs 368.75 on 24 June 2015 against 367.10 per kg on 23 June 2015. On Thursday trading gains are expected to get resisted at Rs 372 and 375 per kg. Meanwhile support for Copper is at Rs 364 and 362 per kg. On Wednesday, the low for Copper was at Rs 365.35 per kg, and a high of Rs 371.90 per kg was noted. Open interest was at 15604 on 24 June 2015 against 16301 on 23 June 2015.
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