Copper in London may decline by as much as 12 percent to $7,100 a metric ton, according to technical analysis by Cofco Futures Co.“The Elliott Wave analysis is indicating that copper is in a downward trajectory. The contract may test $7,736 first, and could drop to as low as $7,100, she said. Elliott Wave Theory, created by Ralph Elliott in 1938, contends that market swings, or waves, follow a predictable, five stage structure of three steps forward, two steps back.
COMMODITY UPDATES :- National Spot Exchange yesterday, ie, on the occasion of Akshaya Tritiya offered to investors.April 24 at NSEL platform of E - Gold, E - E Platinum Silver and purchasing transactions with investors and the conversion will be not charged.