EPIC RESEARCH MCX COPPER UPDATE OF 8 JUNE 2016
Posted by Unknown on 11:38:00 with No comments
Copper trading range for the
day is 295.7-317.5.
Copper dropped as pressure seen as copper rising stocks in LME approved warehouses, which have jumped 21 percent to above 196,000 tonnes in the last couple of days.
Traders said funds were cutting long positions after copper prices on Monday failed to close above the 100-day moving average.
Clues to Chinese growth and demand will comes from trade data due Wednesday and investment and industrial production numbers over the weekend.
Copper dropped as pressure seen as copper rising stocks in LME approved warehouses, which have jumped 21 percent to above 196,000 tonnes in the last couple of days.
Traders said funds were cutting long positions after copper prices on Monday failed to close above the 100-day moving average.
Clues to Chinese growth and demand will comes from trade data due Wednesday and investment and industrial production numbers over the weekend.
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