Weekly

Weekly Commodity Outlook


HIGHLIGHTS:

Copper surprised market players last week as the metal which was once touted as the ‘king of the base metals’ displayed a royal performance to give the best weekly closing for the current contract. The major industrial base metal added more than seven percent gains to come out of a six month long dull phase, with a bang. The long full bodied white bullish candlestick of last week is having such a bold & beautiful stance that the six month long era of range bound trading clearly looks like garbage. All in all, the positioning of candlestick itself tells the story and rejects the need of looking at some other parameter of technical analysis to reaffirm strong prospects the metal has built up for this week. Buy on small dips.       

Tags: Technical


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