Below is the chart of copper.
3.5333 is and will act as a hurdle. Yesterday it was trading close to this level when some negative news about Fed came in and it started falling. Now short term traders keep an eye on this level, if short and above this level, major break out for copper.
On MCX, if this breakout happens, Copper may retest 435-40 easily.
Otherwise it will decline towards 415-17 and may consolidate.
Will update more as things become interesting.
RANVIR SINGH
3.5333 is and will act as a hurdle. Yesterday it was trading close to this level when some negative news about Fed came in and it started falling. Now short term traders keep an eye on this level, if short and above this level, major break out for copper.
On MCX, if this breakout happens, Copper may retest 435-40 easily.
Otherwise it will decline towards 415-17 and may consolidate.
Will update more as things become interesting.
RANVIR SINGH
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