Copper Breakout Level Seen At 434
CommodityOnline | Sep 19, 2014 08:17AM ET
On breaking out on either side the commodity is expected to move around Rs10 to Rs12. On the flip side, the breakdown level is Rs418 and on the upside the break-out level is Rs434.
As one can see from the adjacent chart, MCX copper is following a trend channel on the four-hour chart. On breaking out on either side the commodity is expected to move around Rs10 to Rs12. On the flip side, the breakdown level is Rs418 and on the upside the break-out level is Rs434. The other technical observations are the Relative Strength Index is valued at 40, the Moving Average Convergence Divergence is valued at (0.40) and the Momentum is valued at (3).
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