QC1! trade ideas
copper intraday 19/11/2021copper intraday as of now it looks gap up...
by chance on evng session if opens around 731.10 to 732.20 levels
and took resistance there then it had some chances to reverse towards 725.80 to 719.40s..
so dont urge to take any positions on opening... good luck for the day...
note :
above 732.20 we ll get more pain to sellers.. stick with the levels...
for proper ranges
8825531648
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