Base Metal Commodity Update by CapitalVia

Base Metal Commodity Update by CapitalViaInvestors were focused on the outcome of the Fed's two-day policy meeting, due to conclude later Wednesday. The central bank was expected to announce plans to start tapering its USD85 billion-a-month asset purchase program.

A recent series of soft economic data raised doubts over how much the U. S. central bank will reduce its stimulus program, weighing on the dollar. Copper Heads for Biggest Weekly Rally in a Year on Fed Stimulus.

Trend of MCX Copper future is consolidate and also sustaining around higher levels. So, for the coming week, it could face major resistance of 482/490 whereas 463.45/456 could be a major support in MCX Copper. For the next week trader may go for buy on lower levels, if MCX Copper future sustain above 472.20 levels then it could test the level of 476/ 482 levels.