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MCX Copper technical Outlook for day trader

MCX Copper April contract closed at 376.65 changed up by 2 points. Today support will be at 375-374 areas, but stability below these levels will once again it will open the door for the target of 370-366 in the lower side and more down side possible. In the upper side Resistance is now seen near 386, if sustained above this area it will bring a retest to 390 areas. Strongest resistance will be at 392 any sustained move above that level will bring 400 and more upside.

Trading range for the day is expected between the key support at 374 and resistance at 392.

Recommendation:

  • On the daily chart it is moving down side so trader should sell around the resistance area or can sell below the supportive area.

NOTE: The recommendation here shared for education purpose. we are not responsible for any loss or profit. 

 

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