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Copper in mcx after a long sideways move last week


has given a break down , copper in mcx is trading in a

range between 426 on the higher side and

405 on the lower side,

one can see in the chart that each and every time when the

prices move close to the resistance levels bear’s

upper hand pushes the prices down ,

last week it has broken its medium term support line of 415 ,

which is actually considered as a ascending triangle breakdown

technically bearish for the commodity,

though another strong support of 405 is very important level to watch..

Rsi is also well below the 50 mark which confirms the bearish trend.


Weekly Call :

Sell copper only below 405


and add further on rises up to 408


with stops above 413


for tgts 396 and 393..