Copper future daily chart analysis
Copper future on Friday closed at 437.45 with loss. In this week we saw 1 up days and 4 down day for copper prices. Copper future after major breakdown below 454 rupee hit first bearish target of 438 rupee and now below 438 next level to watch will be 418 rupees. Daily chart indicators are bearish but oversold so traders here must keep strict stop loss for short positions.
Copper future weekly chart analysis
Mcx Copper future this week closed with loss. This was third losing week for copper future. On weekly chart copper prices are retracing back towards 433 levels after hitting 2019 investment target of 469 rupees.
From long term view, copper future below 433 will remain weak and sell and on downside 375 and then 340 rupees are long term bearish targets. If sustain above 433 then expect 469 and 525 rupee levels in longer terms.
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