The price of Copper appears to be forming an inverted head and shoulder pattern on its intraday charts. A breakout from the said pattern would be confirmed when the price breaks above the neckline resistance level of `416. We believe that if the Head & Shoulders formation does record a breakout, the price could advance to levels of Rs 419 - Rs 422.50 levels. Thus traders can buy on a break above Rs 416 levels with a stop loss placed below Rs 412.40 levels for the above mentioned targets.
Get free two day trail on our MCX calls be that Intraday or Positional.
Get free two day trail on our MCX calls be that Intraday or Positional.
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