February 20, 2013

MCX Copper Trend line breakdown

  • MCX Copper daily chart shows price below the rising support line
  • 2nd chart shows a possible head and shoulders pattern. Price nearing the neck line of the pattern. This area between 432 and 435 may act as strong support level. 
  • Further breakdown only if bears of copper manage to break below the zone between 432 - 435.

1 comment:

  1. Markets Quantified
    NIFTY 20-Feb-2013
    Current Market Situation :

    NIFTY current close : 5943
    NIFTY resistance level : 6158
    NIFTY support level : 5912
    NIFTY sentiment : positive
    NIFTY dominant cycle period : 14 days


    Levels Tomorrow :

    NIFTY intraday resistance 1 : 5968
    NIFTY intraday resistance 2 : 5997
    NIFTY intraday resistance 3 : 6038

    NIFTY intraday support 1 : 5918
    NIFTY intraday support 2 : 5890
    NIFTY intraday support 3 : 5848

    Markets Quantified

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