EquityPandit’s Outlook for Copper for the week (Mar 18, 2019 – Mar 22, 2019) :
Technically on the daily charts we see minor support on the downside for Copper Mcx Future lies in zone of 440- 441 levels, where as minor resistance on the upside is capped around 458-460 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 470- 472
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 472- 470 on upside and 432- 430 on downside.