MCX Tips For 08 July

Gold prices held just below $1,530 an ounce on Thursday after the European Central Bank signalled it would continue to raise rates and offered to help Portugal stay solvent. Brent futures surged nearly $4 on Thursday, lifted by a bigger-than-expected fall in U.S. weekly jobless claims and crude stock draws. Copper rose on Thursday to its highest in nearly three months as expectations of increasing demand from top consumer China and upbeat employment data from the United States.

MCX Copper (Aug)

Trend : Consolidate

Strategy: Buy on dips

Resistance:

R2 -  449

R1 -  440

Support:

S1 - 428.5

S2 - 419