2 MCX Tips - Copper Future


Copper is, on the one hand, viewed by many as a bellwether of the industrial sector, yet at the same time, volatility is magnified on the other hand by copper’s popularity among investors, undermining the effect the fundamentals should have in dictating price.Copper looks technically bearish on the charts and with no economically relevant event on the anvil for the evening, the bearish trend is expected to continue for all base metals for the day. Slowdown in China is not good for commodities because usually the prices are driven up by demand only. Slowdown signifies drop in commodity prices but because of slowdown, the expectation will build up for stimulus measures and that will provide a relief rally in commodities. At the moment market will focus on slowdown data and after the correction, the relief rally will come on anticipation of stimulus measures.

Copper is having strong resistance at 420 so you can Sell Copper in the range of 415 to 418 for a target of 397, 387 with a stop loss of 420

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2 comments:

  1. copper sell last tgt ...................???

    ReplyDelete
  2. This Call is closed however if you want, you can sell copper again in the range of 433 to 442...Trendgurus

    ReplyDelete

Thanks for giving your valuable inputs, TRENDGURUS

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