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Friday, June 8, 2012

MCX Tips: Crude & Copper Trend

Crude oil has to suffer sharp decline today. MCX Crude oil prices have slumped down to 4600 level after declining  nearly 2%.  The effect of the decline in the international market has had on the domestic market also. Weaker global cues stimulated the selling sentiments in MCX and crude slipped down again.

MCX copper has also witnessed sharp fall. It has fallen more than 1.40% and copper June futures is currently trading at 405.

For near term trade, buy on lower level strategy is suggested to the traders as near term trend of crude and copper is still positive.
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