MCX COPPER Trading Tips Technical Analysis Chart Graph forecast- Commodity stuck in a range bound zone, sharp movement expecting once it comes out , levels to watch out are - resistance 433, support 414. (Updated on 16th September 2014, Tuesday).

MCX COPPER

• As per previous report published on MCX COPPER, commodity failed to break its resistance @ 439.50 and  witnessed selling from thoses levels and after that Copper made a low around 415. (Click here to see previous report published on MCX COPPER).
• Current chart indicates that Copper is coming down from golden ratio and 200 DMA resistance zone, this indicates that as long as Copper trades below it will be favored by bears and further weakness can be seen, bulls will only be favored once commodity closes and stays above 433, if closes above 433 and stays above then copper will find next resistance around 439.50. As shown on technical chart no1,
• Also See - NATURAL GAS MCX has formed double bottom formation, will favor bulls once it closes above its trend line resistance.
• As per chart no2, Copper is stuck between 433 and 414, breaking its range zone will bring sharp move, close watch on it support and resistance levels mentioned.
• Suggested Reading - National saving certificate of India.
• As per chart no3, If Copper closes below its recent bottom @ 414 then will find next support around 404 its 161.8% fibonacci retracement. Close Watch.
• Intraday Tips - If Copper holds below 404 during trading hours with volumes then intraday weakness can be seen.
• Click here to see all the trading reports (trading tips) published by us on MCX COPPER.
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