Tuesday, December 27, 2011

Copper and Natural Gas Tips

COPPER (FEB. 2012)
Last week it broke the support level of 390 and finally made a low of 387. But some recovery was seen, which resulted in it managing to close above 400. Now in this week, we may consider resistance at 412-415, successfully crossing over it will move further. On the other hand, downside support at 400-398 to watch out.
It failed to hold the support level of 170 and continue closing, thereby indicating near-term trend as bearish and bulls should avoid fresh longs as long as the price stays below. Continuous trading below may test 156 mark.

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