EquityPandit’s Outlook for Copper for the week (Mar 11, 2019 – Mar 15, 2019) :
Technically on the daily charts we see minor support on the downside for Copper Mcx Future lies in zone of 448- 445 levels, where as minor resistance on the upside is capped around 468- 470 levels.
If Copper Mcx Future breaches minor support on the downside and closes below it we may see fresh break down and Copper Mcx Future can head towards major support on lower side around 432- 430 and if breaches minor resistance on the upside and closes above it we may see fresh breakout and Copper Mcx Future can head towards higher levels around 485- 487
Currently Copper Mcx Future is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 485- 487 on upside and 432 430 on downside.