Mcx copper monthly report for December 2016
Mcx copper future last closed at 399.5.and we saw high of 418 in month of November. though above 379 outlook remain bullish. For month of December 2016, but current price and indicators pattern suggest correction up to 379. Below 379 on weekly closing basis, downtrend start for this major base metal and expect 340 as downside target on breakdown. If sustain above 379 after correction then my reversal rally mcx copper month target is at 435 and then 474. , price trend and patterns are still bullish and above 392 rupee, mcx copper will head towards my long term target 470 rupees.