February 12, 2013

MCX Copper intraday update

 
  • One hour chart of copper shows a Bearish Head and shoulders pattern. These day's Classic patterns rarely work according to the rules So its better to treat the Neck line as a support level to try long trades. 
  • Daily chart also shows 50 Day SMA around the neck line. Bears need a close below 50 SMA for short trades. Price sustaining above 50 SMA should favor long trades.

2 comments:

  1. NIFTY 12-Feb-2013
    Current Market Situation :

    NIFTY current close : 5922
    NIFTY resistance level : 6158
    NIFTY support level : 5912
    NIFTY sentiment : positive
    NIFTY dominant cycle period : 16 days


    Levels Tomorrow :

    NIFTY intraday resistance 1 : 5947
    NIFTY intraday resistance 2 : 5976
    NIFTY intraday resistance 3 : 6017

    NIFTY intraday support 1 : 5898
    NIFTY intraday support 2 : 5869
    NIFTY intraday support 3 : 5828

    for more log onto
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  2. Wonderful day for trader sensex and nifty both goes up higher level. This week share market will rock because of election results.
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