Mcx Copper Weekly Outlook – MCX Copper Feb. as seen in the weekly chart above has opened the week at 403.55 levels and it made a low of 397.85 levels. During this week prices could not able to sustain on lower levels and bounced towards the weekly high of 411.50 levels. In this week prices closed below the previous week’s closing of 403.40 levels and finally closed 1.78% higher at 410.60 levels.
Copper Support & Resistance Level Report for Upcoming Next Week :
For the next week we expect Copper prices to find support in the range of 404 – 403 levels. Trading consistently below 403 levels would lead towards the strong support at 398 – 396 levels and then finally towards the major support at 393 levels.
Resistance is now observed in the range of 415 – 416 levels. Trading consistently above 416 levels would lead towards the strong resistance at 421 levels, and then finally towards the major resistance at 427 levels.