February 17, 2012

COPPER Falling towards 50 SMA

  • Copper falling down from 20 Day SMA.
  • Trend line and 50 SMA will try to support the fall.But copper bulls will be weak below 20 SMA so till then up moves will face selling pressure at higher levels.
  • If the support line and 50 SMA is held we may see a rally towards 20 SMA.
  • Breaking below the support level may give 3.61 and 3.53 levels.

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