mcx copper deeply oversold and bearish

 

mcx copper weekly forecast for 23 to 27 nov 2015
mcx copper future this week closed with loss at 300.
this was straight 6th losing week for this commodity
and fund selloff putting enormous pressure on prices.


on weekly chart, indicators are deeply oversold
and prices are at historic lows.

mcx copper for next week will have supports around 298
and below it next will be 293.
on upside 308 and 315 are strong resistances as well as target
zones on reversal move.

investors here must follow buy on decline strategy
for long term targets of 370 to 410.