Posts
WWW.MTECHTIPS.COM
MCX FEB COPPER MARKET RECOMMENDATION
For this week copper February futurestraded bullish and settled higher at 416.65 against previous week?s close of 401.90.Volume increased this week indicatingbullish mode to be continued for the coming week. A long white candle stick is signifying bullish mode for the coming week also.However, on the higher side there is a crucial resistance at 420 of the major trend line (drawn by joining 2 well defined peaks of465.45 and 442.75). The momentum indicator RSI (14) is treading at 0.55 and also formed a bullish crossover with it its movingaverage (9). We recommend traders and investors to go long at 412-410 targeting 420 and then 425 with stop loss below 404.50.
MCX FEB COPPER MARKET RECOMMENDATION
For this week copper February futurestraded bullish and settled higher at 416.65 against previous week?s close of 401.90.Volume increased this week indicatingbullish mode to be continued for the coming week. A long white candle stick is signifying bullish mode for the coming week also.However, on the higher side there is a crucial resistance at 420 of the major trend line (drawn by joining 2 well defined peaks of465.45 and 442.75). The momentum indicator RSI (14) is treading at 0.55 and also formed a bullish crossover with it its movingaverage (9). We recommend traders and investors to go long at 412-410 targeting 420 and then 425 with stop loss below 404.50.
No comments:
Post a Comment