Mcx copper weekly-achieved target 334 now expect correction

Mcx copper weekly-achieved target 334 now expect correction Mcx copper weekly technical analysis 7 to 11 November 2016 Mcx copper future this week closed at 334.25 with gain. In last 2 weeks mcx copper prices rallied from lows of 310 to 335. Mcx copper achieved my given target of 332-334 and now heading towards resistance of 340 rupee.   Mcx copper weekly price trend and momentum both are bullish but technically overbought so expect limited upside and wide downside for this base metal commodity.   Base metal traders for week can follow sell on rise view and expect correction up to 325 to 321 in this week. If rally continues 340 will be next target for copper prices.

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Pramod Baviskar

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