MCX :

COPPER HAS BEEN THE MOST VOLATILE METAL AS COMPARE TO NICKEL IN THE PAST QUARTER.

SO AS THE RETURNS ARE DECENT V/S NICKEL,

ON AVERAGE COPPER MOVES 30 RS A WEEK.

NOW LET'S COME TO TECHNICAL PART, COPPER WAS UNABLE TO BREAK 372 LEVEL, WHICH WAS MOST IMPORTANT SUPPORT,

AND IT GAVE CLOSING ABOVE 380 LEVEL, THAT IS VERY ATTRACTIVE MARK FOR LONG UP MOVE.

IN THIS CURRENT & PAST WEEK, COPPER WAS UNABLE TO SUSTAIN ABOVE 390 LEVEL,

NEVERTHELESS AS PER YESTERDAY'S RALLY FROM ITS LOW 374.80 TO ITS CLOSING 384, WAS A SIGN OF BULLISH MODE,

WE EXPECT IN COMING WEEK IF COPPER SUSTAIN ABOVE 390 LEVEL, IT MAY BREACH 400 SOON.

MOST IMPORTANT WHERE TECHNICAL LEVEL DOES"T WORK, BUT DETAILING RESEARCH WORKS: - (Read Below)

DUE TO CHINA IMPORTS DROPPED BY 9.5% TO $ 140.46 BILLION IN OCTOBER, WHILE EXPORT DATA SHOWED A DECLINE OF 7.2% TO $ 157.49 BILLION ON A MONTH ON MONTH BASIS.

THE TOTAL TRADE SURPLUS STOOD AT $ 17.03 BILLION DOWN 36.5%.