Base Metals Preview: Copper At Near Two Week Low

Copper flipped back on profit selling and technical cues dragged it further. Traders also eyed the firmness in US dollar. US dollar index surged to near three and half month highs of 91.60 levels as traders eyed the upbeat US economic data. COMEX Copper fell near two week low of $ 3 per pound. However, economic data has been good recently and there is a possibility that the red metal might hold up after the latest slide which has taken it to a three week low. MCX Copper futures broke under Rs 450 per kg levels as a slide from highs above Rs 460 extended.