Copper is giving a Bullish Pennant pattern wait for breakout confirmation and take trade
IN spite of Bullish COT Reports - Copper Still seems to be working to kick out the last bear. While Weekly Momentum is up and Daily Down, Looks like it still has one or two legs down before it moves up. 3 to 3.1 Area Looks interesting. Watch Out for it. Have Patience and keep a Watch on Daily Momentum
i) volume is increasing ii) 20 days and 50 Days average is below the candle iii) RSI going to over bought zone
Copper prices have been rising in the past two weeks as producers chile flagged supply risks. 1. Souring heat wave in west seek demand for energy generation 2. The demand in electric vehicle adoption would likely to grow despite risk of economic slowdown. To add fuel to the fire, The largest miner of copper Chile posted a 1.5 percent YoY fall in Industrial...
As per the daily chart Zinc has created H&S pattern. This gives us a good shorting opportunity.
A small flag is formed in Copper Expected price level is shown Information mentioned here is for study purpose
Copper taking support at 5 min value range. trade accordingly.
The fib ext which has been respected time & again. Just kissed 0.618 today. Lets see if it holds or break on CB. MCX Copper
Copper trading at the 3rd line support of diagonal pattern, also has strong support at 670 zone, Expecting buyers to hit 780-800 in case of correction and if in case of new trend …price ll rally to 950+.
MCX:ZINC1! Its is a short term trade Zinc is at great support zone. A target of 300 can be seen in near future. This is educational purpose
Short below 703 sl as per chart target below 698 trade with risk
As seen on chart, long term trendline broken on chart....2 year trendline broken...if sustain below we will see more fall towards 260 levels...
As seen on chart, Copper broken long term trendline....we can see levels of 672-660-633 levels....
can sell with a stop loss of 323, the target will be 321.45 my personal view only
MCX:COPPER1! #MCX:COPPER Levels for Practice. Happy LEarning !!
Crossing 782.85 leads the way to 806 No overlaps on the structure on LTF
its sideways to berish sell on rise till not close above last swing high
COT Reports and Daily Technicals Suggest that Copper is due for a Bounce Shortly