MCX Copper November as seen in the weekly chart above has opened at 416 levels initially made a low of 415.40 and then moved sharply higher towards 423.50 levels and finally closed sharply higher from the previous weeks closing levels.
For the next week we expect Copper prices to find support in the range of 420-419 levels and then strong support is seen at 417-415 levels. Trading consistently below 415 levels would trigger sharp correction initially towards the strong support at 412.35, and then finally towards the major support at 405.70 levels.
Resistance is now observed in the range of 425-426 levels. Trading consistently above 427 levels would lead towards the strong resistance at 432 levels and then finally towards the major resistance at 435 levels. Multiple closing above 435 levels would open the door for a new leg up initially towards 442 levels, then 445 and then finally towards 449. (NEAL BHAI 9999974733)
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