Technical Outlook:
On LME, daily chart of Copper is forming an upward channel. At present copper price is around
$7160 and support is around $7040. Breach of $7175 will pave the way towards further upside
movement towards $7350-$7450. Looking at the support resistance levels, we find that the risk
reward ratio for a buy strategy is around 1:2. Hence we maintain a buy strategy for copper. In
terms of MCX, the support level is around 428.10 and 430.10. At present prices are around 435.
Breach of 435.85 is important and will likely take prices towards 445.10-442.10 zone. We would advise
to remain on buy side for copper keeping SL below 428 for initiating buying above 435. If prices
dip towards 428-430, one can look to initiate long with SL below 424 for same targets.
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
On LME, daily chart of Copper is forming an upward channel. At present copper price is around
$7160 and support is around $7040. Breach of $7175 will pave the way towards further upside
movement towards $7350-$7450. Looking at the support resistance levels, we find that the risk
reward ratio for a buy strategy is around 1:2. Hence we maintain a buy strategy for copper. In
terms of MCX, the support level is around 428.10 and 430.10. At present prices are around 435.
Breach of 435.85 is important and will likely take prices towards 445.10-442.10 zone. We would advise
to remain on buy side for copper keeping SL below 428 for initiating buying above 435. If prices
dip towards 428-430, one can look to initiate long with SL below 424 for same targets.
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
No comments:
Post a Comment