Mcx Copper Weekly Outlook - MCX Copper April as seen in the weekly chart above has opened at 377.55 levels and on the same day it made a high of 389.80 levels and also made a low of 371.45 levels. During the week prices had moved between the weekly high and low levels. This week prices closed above the previous week’s closing of 375.50 levels and finally closed 0.40% higher at 377 levels. Technically prices have formed “Bearish Candlestick pattern” indicating further weakness.
Copper Support & Resistance Level :
For the next week we expect Copper prices to find support in the range of 367 – 368 levels. Trading consistently below 367 levels would lead towards the strong support at 360 levels and then finally towards the major support at 355 levels.
Resistance is now observed in the range of 381 – 382 levels. Trading consistently above 382 levels would lead towards the strong resistance at 389 levels, and then finally towards the major resistance at 395 levels.
SILVER WEEKLY CALLS – Sell MCX Copper April between 381 – 382, Stoploss- 389, Target – 367/ 360