Mtechtips COPPER MCX  intraday trading analysis 31-12-2012

Mcx copper on daily chart look like given reversal and above 437 we suggest to hold longs for targets of 442 and then 448.if breaks 3 month level support as metals going through profit booking phase then expect again 434-425 as target levels in short term. from medium to long term view we are bearish and top of 450 now stoploss and on downside 425 to 415 look like target level.fresh shorts must avoided but those holding 448 level shorts can hold them for 425-415 with trailing stoploss. fiscal cliff may set recession and that mostly going effect china which directly going to effect copper prices??also euro zone rebound crisis news also disturbing moods of investors.





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