Mcx Copper Weekly Outlook - MCX Copper June as seen in the weekly chart above has opened at 378.75 levels and made a high of 378.85 levels. But could not sustain at higher levels and prices fell sharply lower towards making the weekly new low of 359.15 levels. This week prices closed below the previous week’s closing of 380.70 levels and finally closed 5.33% lower at 360.40 levels. As per the candlestick pattern it formed “Bearish Candlestick” indicating downside strength.
Mcx Copper Support Level :
For the next week we expect Copper prices to find support in the range of 355 – 354 levels. Trading consistently below 354 levels would lead towards the strong support at 348 levels and then finally towards the major support at 342 levels.
Mcx Copper Resistance Level :
Resistance is now observed in the range of 367 – 368 levels. Trading consistently above 368 levels would lead towards the strong resistance at 375 levels, and then finally towards the major resistance at 380 levels.