Copper - August 5, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

LME copper prices are trading weaker on Thursday early afternoon trade amid worries that spreading COVID-19 outbreaks would hit demand for the metal.

Meanwhile, a stronger dollar was pushed higher by hawkish comments from the Federal Reserve, also weighed on prices.

Technically, LME Copper below $9550 level could see a Bearish momentum up to $9400-$9350 levels. Resistance is at $9600-$9730 levels.

Domestic copper prices are trading marginally in the red on Thursday early afternoon trade, tracking overseas prices.

Technically, MCX copper August below 733 levels could see a Bearish momentum up to 725-723 levels. Resistance is at 732-735 levels.

Source : Equity Bulls

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