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Wednesday, December 8, 2010

COPPER BEST BUY LEVEL 401 RESISTANCE @ 402.30 A BREAK ABOVE THAT TARGET IS 407.05/408.50 ..HOWEVER A CRACK BELOW 400.65 SELL IT FOR A TARGET OF 396/394.60

                                   CMP - 403.75
TRADING STRATEGY : TRADERS NEED TO BE CAUTIOUS WITH THEIR LONG POSITIONS... WHY ?? YESTERDAY COPPER HAS MADE A HIGH OF 408.50 & THEN CRACKED... MORNING SESSION IT HAS MADE A LOW OF 398.40 & THEN BOUNCED BACK.... ITS JUST TO PANIC TRADERS... COPPER HAS ALREADYMADE A HIGH OF 408.50 ..AFTER CRACKING IF BOUNCES THEN IT HAS TO MAKE A NEW HIGH 408.50... SO AS PER TODAYS PRICE MOVEMENT COPPER TARGET IS 408.50 ..BUT IT HAS ACHIEVED YESTERDAY ... SO BEFORE MAKING A NEW HIGH IT IS A MUST FOR IT TO CORRECT TILL 396 OR BELOW & THEN BOUNCE... SO ONLY THEN COPPER CAN MAKE A NEW HIGH ..."SPRING ACTION"... WE ADVICE OUR TRADERS TO BOOK PROFITS @ 396 & LEAVE THE REST ( 2ND) TO OTHER TRADERS TO EAT....
*** there are chances of copper testing 407.05 & then fall

1 comment:

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