AHMEDABAD (Commodity Online): Copper March contract has moved up by 0.65% during trading session on MCX. Copper opened at Rs 343.15 per Kg and made low of 339.85 while it made high of 344.15. Total volume is around 75615 lots and open interest is around 24208.
“Technically, resistance level is at 348” said Hardik Shah, Sr. Commodity Analyst with Commodity Online.
Copper has gained from 327 to 347 within last 15 trading days.14 days RSI for Copper is at 65 and is increasing continuously on buying pressure. Today LME stock is -700.
“Fundamentally, Copper is strong. One can make long position at 330 levels for long term.” Said Shah.
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