CAPITAL STROKE COMMODITY UPDATE 19-AUG-2014 :: MCX COPPER

COPPER: CONSOLIDATE STRATEGY BUY ON DIP R2-428 R1-422 S1-412 S2-406. Copper edged higher as traders built up stocks on fresh signs of economic recovery in US and a view that the sell-off was too heavy. China’s new home sales prices were reportedly down for a third straight month in July, indicating the downturn in housing market. The refined copper surplus in China is expected to further widen in 2014 on the back of low demand.

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