EPIC RESEARCH MCX Copper UPDATE OF 27 December 2018

Posted by Commodity Updates by Epic Research on 12:25:00 with No comments

Copper trading range for the day is 406.5-431.7.

* Copper prices gained on the back of a broad-based rally in financial and commodity markets, but gains were limited by global economic growth concerns.

* Investors are fretting the global economy is slowing just as monetary conditions are tightening, with political instability in US.

* China will not resort to "flood-like" stimulus in monetary policy next year, although it will consider more cuts as needed to reserves held at commercial banks.

* Warehouse stock for Copper at LME was at 129725mt that is unchange mt.

* BUY COPPER FEB 2019 @ 419.00 SL 417.00 TGT 422.00-425.00.MCX

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