#MCX #copper till now respected the trend line and given and given move from 790 to 830
now this rising trend line levels comes around 815--813.. if copper breaks down this trend line and levels
than it will move down towards 800----790
till it is respecting trend line no shorting... stay with patience
views are educational
MCX copper took the multi time support 790 than given breakout from the triagle and till now made high near 820...
now MCX copper is buy on dip mode
now immediate support near 805--800
sustaining above 820 will give move towards 840++
views are for educational.. play support and resistance
MCX copper i a triangle and range contraction happening...
790 is important multitime support... whereas immediate hurdle is 800--803
breaing out of the triangle will give move towards 820+++
whereas breaking down of 790 will take to another important support 780
views are educational
Copper has been correcting sideways since the May '21 high. The correction has taken the form of a triangle and the internal waves of the triangle show the expected 3 wave alternating movements. The recent low of 4.25 has a good chance of being the terminal wave e of the triangle. There is also a possibility that we are still in wave d and wave e is yet to form (...
Everything mentioned chart ones get breakout, one can enter as per their trade setup. Target already mentioned and that is trailing basis, stop loss recent swing low.
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please...
Copper 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'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...
Look at the above weekly chart of MCX Copper. It has created an ascending channel pattern without breakout. This channel started in the previous year's April month. At present, it's falling after making a tail. But how much it can go down? Copper may fall more from here, and that can be up to 728 - 710.6 levels.
But overall, it's on an uptrend. So, soon it will...
MCX Copper has just traced out a pattern that can be interpreted as a A-B-C Zigzag from recent highs. All 5 subwaves of the final C wave seem to be in place. This now means the uptrend should be back in force to new highs. Hold longs with Stop at recent lows.
Copper has broken March 2020 resistance trendline, and true resistance breakout is a clear signal to buy. Target prices for long-term traders: 760 - 800+
But at present, MCX copper can pullback to the previous resistance line to continue an uptrend. So, intraday traders can sell for the following targets: 690 -...