MTECHTIPS:-MCX Copper Manages To Hold Above Rs 390 Levels

MTECHTIPS:-MCX Copper Manages To Hold Above Rs 390 Levels

MTECHTIPS-MCX Copper managed to hold gains, ending just above the key Rs 390 per kg levels yesterday. Large speculators raised their bullish net positions in global Copper markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 15,330 contracts in the data reported through Tuesday July 18th. This was a weekly advance of 3,324 contracts from the previous week which had a total of 12,006 net contracts. Copper speculative positions have risen for three out of the past four weeks and have remained above the +10,000 speculative net level for seven consecutive weeks. The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -17,580 contracts on the week. This was a weekly shortfall of -2,679 contracts from the total net of -14,901 contracts reported the previous week

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips

WWW.MTECHTIPS.COM

07489294118-119