MCX Copper is playing under a parallel channel. Currently, it's at the support trendline. Additionally, there's a Fibonacci retracement value of 0.886 .
The best trading strategy for the day traders is:
According to a moving average and parallel channel's support trendline, copper is strongly bullish. It can show us an all-time new high before the end of this...
Price reaching reversal area that is supply zone. Was a good buy trade from the support, in no time price reaches the resistance levels.
Look for sell trade if rejects from the supply zone.
Price after a big fall from February 2019 resistance levels recovered big and closed strongly above the resistance levels in weekly time frame which is good sign for bull ride.
complete loss of demand after upthrust, this was essentially a redistribution and currently in markdown
will retest broken down levels before resuming downtrend..
also watchout for a upthrust to 2.6070 test and then accelerate breakdown..
