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Monday, August 31, 2015

Update on Copper & Crude 31 Aug 2015





Copper



Support at 340 and Resistance at 343


Decisive break and sustain below 340 will take to 337---334.50. Further panic seen only close below 334.50 mark else it could test its resistance level of 343 again


Above 343... once again it could test 347---348.50+ mark


Today.. Copper has an expiry. So traders can trade safely with levels only.





Crude Oil



Support at 2890 and Resistance at 3050---3120

Looks positive and could test its resistance level of 3050 and then to 3090---3120 mark

Fresh selling can initiate only close below 2890 level

Close below 2890 will take to 2830---2780 and then to 2650 mark in days to come


Traders can trade with levels only.... More will update soon!!