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Tuesday 12 September 2017

Copper prices are expected to trade sideways today: Angel Commodities

LME Copper prices traded higher by 0.8 percent on Monday to close at $6748/t as favourable Chinese inflation data at the weekend reassured investors regarding growth of the mainland economy.

Chinese CPI jumped to six month high of 1.8 percent in August, while PPI jumped to four-month high levels.

Besides, LME Copper stocks again declined by 2.2 percent on Friday, thereby supporting the metal.

MCX Copper closed higher by 0.9 percent to close at Rs.435.2 per kg.

LME Copper prices are currently trading lower by 0.6 percent at $6707/t. Copper prices are likely to trade sideways today as the UN approved an eased version of sanctions to be imposed on North Korea excluding an oil embargo and a freeze of Kim Jong Un's assets.
On the MCX, copper prices are expected to trade sideways today.


Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.

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