Base Metal Updates, Copper Trend, Intraday silver Tips 7 March 2012

Base metals today is trading positive by 0.4 to 1.4 percent post yesterday’s fall. we recommend initiating short position at higher levels as weak Asian and European equities coupled with contracting German factory orders. However, slight pullback in metal prices may be witnessed during US data releases.

Copper Support and Resistance :- Support for the Copper is 419-417-411-406.
Resistance for the Copper is 427

MCX Silver Trend for Today :-
MCX silver May contract is trading at Rs 57984 after opening at Rs 57989, up 0.42%. MCX silver May support Rs 56436/Rs 57032 , resistance Rs 58400/Rs 59350. 

Silver Trading tips :- BUY MCX Silver May above 57,800, SL - 57450, TGT - 58350