Technical Analysis MCX COPPER
Weekly Chart
Weekly Pivots
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
COPPER 427.90 411.90 395.90 387.80 379.90 371.80 363.90 347.90 331.90
Market Overview
Copper is in an upward consolidation phase and traders should use the strategy of buying on lower levels. Last week COMEX Copper neither sustained at higher levels nor at lower levels. If next week COMEX Copper sustains above the level of 387 then above the level of 390 Copper can test the level of 400. In MCX Copper above 380 Copper can test the level of 387 if it does not break the level of 367 on the downside.
Strategy
For the upcoming week 390 and 410 will act as major resistance and 365 and 340 will act as major supports in COMEX Copper. For MCX Copper major resistance would be 380 and 388 and supports would be found at 367 and 357.
