EquityPandit’s Outlook for Copper for the week (Mar 25, 2019 – Mar 29, 2019) :
Technically on the daily charts we see minor support on the downside for Copper Mcx Future lies in zone of 430- 431 levels, where as minor resistance on the upside is capped around 40- 452 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 415- 416 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 460- 461 on upside and 415- 416 on downside.