Be ready for some downtrend in mcx copper

Copper is expected to open in a downtrend in opening trades on MCX after bouncing sharply in last session trades. The most active Copper contract will plunge down after the preliminary reading of Purchase Managers Index (PMI) by HSBC has come to 49.6 against the analyst estimates of 50.4 in the month of April.

The decline in Copper is also possible from the fact that the Federal Reserve Chairman stance on the economy was dovish. The earlier expectations of stopping of stimulus package faced the bump after Ben Bernanke warned against tightening monetary policy too soon. The tightening of monetary policy could lead interest rates to rise temporarily but will carry risk of slowdown in economy. Read more.. http://tradingtipsfree.wordpress.com...in-mcx-copper/

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