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Copper With A Slight Negative Bias

Published 02/21/2014, 04:26 AM
Updated 05/14/2017, 06:45 AM

However on the other hand, the red metal could take negative cues as both the LME Copper and Shanghai Copper are trading marginally lower.

February 21, 2014 13:25


--Copper ended the yesterday's trading session marginally lower taking negative cues from the Philadelphia business outlook which declined sharply to -6.3 from 9.4.

--For the day we have a ranged view on copper with a slight negative bias as on one hand the commodity might take positive cues from the positive Asian equities. However on the other hand, the red metal could take negative cues as both the LME Copper and Shanghai Copper are trading marginally lower.

--Overall we prefer to wait till the afternoon session and sell the commodity from the higher levels during the evening session as the commodity might take negative cues from the existing home sales data which might decline.

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