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 .
I trade in Indian Commodity Market and provide regulare trading tips.
SELL COPPER on MCX with a STOP LOSS of ₹ 725 for a TARGET of ₹ 700.
Curently copper is trading around 719.
MCX:COPPER1!
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...
Long-term Investors:
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+
Intraday Traders:
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 -...
Copper has made the Bullish Elliott wave on the daily timeframe. It's completed the five-wave cycle, ABC correction is remaining. After the 5th wave, the trend started to make the A, and it's still making it. It has to cross 585 - 580 - 560 . After that, It will rise for a short period to make the B. And it will fall again to make C. But all over, it's an uptrend.
