MCX Copper May Rally Towards 426 Levels
CommodityOnline | Jul 08, 2013 02:38AM ET
MCX June Copper; a strong bull close followed by a “long-leg” candlestick pattern on weekly charts has kept the prices into positive territory. Further risk is built on upside and likely to extend the rally to recapture the previous swing high of 426 levels, on a sustainable close above next levels would be around433 levels. However, any fall towards the support testing can be utilized to accumulate fresh longs at 414.30 levels.
The momentum indicator RSI has given an upside crossover by indicating the bullish strength.
Buy around 414.30 with stop loss at 426 and target around 408 levels.
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