Since Copper is in a consolidation , A Break out or breakdown from the support / resistance trendlines could trigger an impulse move on those sides respectively.
With resistance around - 712 - 714
With Support around - 702 - 700
Looking this commodity charts, bull's will definitely attention⚠️ on this
Wave 5 is continue
Very soon we can see sharp reversals on it
Don't buy now only observe this charts actions
break down of Symmetrical triangle view turns bearish only positive on closing above 750 weekly close sell on rises down side target 650-625 in next 2-3 month view fails on closing above 750 levels on weekly bases with volume
Hi All - good opportunity to go long on Copper Futures for short term in 1h chart.
Key Highlights:
1. Bouncing off support zone with good volume
2. Showing good strength
3. Good risk and reward
724 - 726 is the first zone for buying
723 -721 is the second zone for buying
this is when you buy price in two halfs by spiliting quantity
the above fva > fair value area is likely to retest but ive considered the last the two area by considering the confluence of fib 0.5 to 0.7 level which are = with our fva
for resistance we have 744- 746
which is good...
I m very bulish on copper due to ev segments busting in automobile industry
Wide range of band is 720 to 760
Buying starts with strict stoploss of 720wclb
My target is 760/800
mcx copper ------ its consolidated zone start eys on 747 if sustain abvthan mkt go to 751--52 than after 752 abv 757+++ ys hurdel 767 only abv fresh boom only where support 738 if stya blw trhan again dwn 734.90--731++ expect-- copper spot will also move
Very low inventory of stock, higher demand in ev segments, I m very bulish on this commodity
For intraday my stoploss is 438 first target is 445 and then 455
copper on 1 hour chart made a textbook head and shoulder pattern and the head was exactly at pin point rejection with resistance zone of 756-762 lvl
after completing the HnS pattern price made pullback , which was exactly rested on fib lvl of 0.5-0.6 in between which projected the price towards down side of 716.50
also there is one trend-zone coming from higher...
