ZOID RESEARCH 19-JUNE-2014 : COPPER

-Although copper inventories are trading at multi-year low but the pace has been slow in the recent pastwhich is one of the major reasons for the metal to trade down. As of previous day, the total global stocks stand at 0.161 million tons. Also, at the LME, the 3 month forward contract is failing to move higher above $6700+ we believe copper can continue to be a sell and we recommend selling from higher levels. We already -are running our positional sell call which is in progress and expect it to trade down in the near term

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