India, Jan. 20 -- Technically Copper market is under short covering as market has witnessed drop in open interest by 7. 27% to settled at 2652 while prices up 3.1 rupees.
Now MCX Copper is getting support at 605.9 and below same could see a test of 601.4 levels and resistance is now likely to be seen at 614.3 a move above could see prices testing 618.2.
Copper yesterday settled up by 0.51% at 610.25 as stronger-than-expected economic data from top consumer China lent support though rising COVID-19 infections globally weighed on prices and assuaged expectations of a swift economic recovery.
China posted solid economic growth data in the last quarter of 2020 affirming that the world's second-biggest economy is well on track for a recovery ...