COPPER:- In the last week, MCX June Copper prices opened the week at Rs 429/Kg, initially traded mildly lower and found strong resistance at 424.75/Kg. Later prices bounced back from low and touched a high of Rs 448.10/Kg, and finally closed at Rs 446.55/Kg (April 28, Saturday) with a gain of Rs 16.65/Kg as compared with previous week’s close of Rs 429.90/Kg.
On the above Weekly Charts, Copper prices breached contract high and closed above its 10 & 20 week EMA (Exponential Moving Average) which indicates bullish market sentiments.
For this week, we expect Copper prices to find resistance at 455 levels. Trading consistently above 455 levels can lead towards 464 levels. Strong support is now observed at 435 levels. Trading consistently below 435 levels would trigger correction initially towards 430 levels.
Recommendation: Buy MCX Copper June between 435-437, SL-429, Target -455/463.
NEAL BHAI:- 99999747, 9899900589
On the above Weekly Charts, Copper prices breached contract high and closed above its 10 & 20 week EMA (Exponential Moving Average) which indicates bullish market sentiments.
For this week, we expect Copper prices to find resistance at 455 levels. Trading consistently above 455 levels can lead towards 464 levels. Strong support is now observed at 435 levels. Trading consistently below 435 levels would trigger correction initially towards 430 levels.
Recommendation: Buy MCX Copper June between 435-437, SL-429, Target -455/463.
NEAL BHAI:- 99999747, 9899900589
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