Mcx Copper Report : 18th December 2018

Tuesday, December 18, 2018

TIME 8:40 AM IST                   

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MCX COPPER REPORT

Copper will break free from 425-450 wider trading range and form a new range anytime. Key long term support for copper is at 422. Copper needs to trade over 422 for the rest of the month to be in a long term bullish zone.

Copper February 2019:  (previous day close/CMP Rs.438.80)

Bullish over 438.50 with 446.80 and 450.60 as price target.

Bearish below 434.90 with 431.40 and 428.20 as price target.

Neutral Zone: 434.90-438.50

One Support: 434.90

One Resistance: 441.70

o      Small sell off will be there below 438.50

o      Crash will be there below 434.90.

o      Corrections upto 428.20 are a part of the long term bull trend.

o      Copper needs to trade over 440-441 zone today to rise or be in bullish zone.