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MCX NOV COPPER MARKET RECOMMENDATION
Mcx copper nov expiry future closed at 427.35. mcx copper
future also after dipping upto 423 recovered some losses. on daily chart weekly
average is now at 425, below that monthly level 423 and 3month level at 421.
for next week we see resistances at 428-434 and 439.5 while on lower side
425-421 and 416 are supports. trend and momentum both bullish.
weekly analysis:-
Mcx copper this week successfully closed with gains and this
was 4 straight gaining week for this commodity.on week 432 and 444 are
resistance or supply zones while on downside 420 and 418 are major level support.
if copper cross this 434-438 on weekly closing basis then only major upside
move will be expect till then may remain range bound.
TRADING VIEW:-
Day traders and short term traders,425 and 423 are support
levels while 428 and 434 are resistances.
for medium term and long term,420 and 420 are major supports
and resistances to watch 434 and 444!!
all traders above 425 stay long for upside targets.
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