Copper
SELL COPPERCopper has climbed to 811.60 on MCX from a level of ₹ 731 in first two weeks of OCT 2021 and it fell down to again 725 till the end of the same month.
Today Copper climbed to a level of ₹ 746, and now hovering around ₹ 738
Risky traders can take a short call on copper around 738 with a stop loss of ₹ 746 for a target of ₹ 720 .
#COPPER #HG - Bearish interpretation with 3.55 potentialCopper's long rally from under 2.00 to 4.95 has been stalled and we have had a sideways move for the last few months
There is very good support at the 4.05 area, but one of the Elliottwave interpretation allows for a rapid fall to the 3.50 area.
What is visible is an a-b-c down move from May to late Jun in Wave A followed by a sideways triangle wave B. If this labelling is right we should expect a slide through the 4.05 support onto the 3.5 levels.
From the current levels this is a 1:3 R:R trade