Mcx copper future this week closed with gain at 302.8. This week copper future hit low around 293 while high was at 311. Almost 20 rupee move or 7% move seen in copper in this week from the bottom. Last week investors call in copper future minting money.
For next week, copper future 300 and 293 levels are supports as well as fresh buying levels for investors. On the upside, 308 and 312 levels are resistances and targets for short to medium term traders.
Mcx copper monthly chart still throwing very bearish signals and suggesting downside up to 280 levels. Buy and accumulate strategy in copper future is on for risk appetite investors. My personal mcx copper medium term target at 341.