Copper weekly-correcting towards 380 zone

Mcx copper outlook for next week 12 to 16 Dec. 2016

Mcx copper outlook for next week 12 to 16 Dec. 2016

Mcx copper future this week closed at 396.25 with loss. This was second weekly loss for copper prices and in these 2 weeks we saw some profit booking. Mcx copper price trend and momentum still bullish. On downside 380 rupee is major support zone for copper future and current price pattern suggesting correction up to those levels before next major move. Above 380 rupee mcx copper monthly outlook remain bullish and trading strategy remain buy on dips.  

For next week, my view on mcx copper is bearish below 399 rupee levels and my targets are 388 and 380 rupees.

  Mcx copper from long term view, achieved its target of 392 rupee. Rally was started from 300 rupee and trend change was seen at 342 rupee level.  

From long term view, my mcx copper outlook is bullish and above 392 my next target will be 470.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

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