Tuesday, 20 May 2014

CAPITAL STROKE COMMODITY UPDATE 20 MAY 2014: MCX COPPER


COPPER: CONSOLIDATE STRATEGY BUY ON DIPR2-422 R1-416 S1-408 S2-402

Copper gained as disappointing housing data from China fuelled speculation policymakers will unveil fresh stimulus measures to stabilize the economy.

Data showed that house prices in China rose 6.7% in April from a year earlier, slowing from a 7.7% increase in the previous month.

The disappointing data added to hopes that China’s government will introduce fresh stimulus to combat recent signs of a slowdown in the nation’s economy.
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