Copper future monthly outlook June 2017
This was forth losing month for copper prices and in these 4 months we seen
drop from top of 415 to lows of 353. This month copper future recorded low at 353
while high was around 385. Total 32 rupee or 8.31% range and closing near
middle with flat loss.
bearish below 369 level on daily closing basis. Daily chart price pattern as
well as indicators are bearish and suggesting downside for this base metal king
in June series.
then 338. If gives reversal and sustain above 369, then remain bullish and
might head towards 384 and 400 levels.
loss above major top of 374 and keep targets at 353 and then 338 for month of
support 362 rupee and below it on weekly closing basis, expect long term
downtrend and bearish target of 2017 at 305 rupee.