MCX Copper daily chart technical analysis
MCX Copper future on last trading session closed with loss at 444. On daily chart after bearish breakout at 458, copper prices are sliding down on selling pressure. For next week mcx copper outlooks is bearish and has downside target at 435. On chart mcx copper future support levels are 440 and 434 while on upside expect strong resistances at 454 and 460. Below 458 overall copper trading strategy remain sell on rise.
MCX Copper weekly chart technical analysis
MCX Copper future this week closed in red with 3% drop in price. This week mcx copper future high was at 461 while low was at 444. Total 17-rupees weekly range and closed near lows. On weekly chart, mcx copper going through correction phase and heading towards major support levels to test them. From medium to long-term view, 442 and 430 are strong supports on downside and important on weekly closing basis. On upside 455 and 470 are strong resistances. If correction and panic in global market continues, we may see 430 and below levels in next 3-4 weeks time frame.