Monday, 15 June 2015

Technical Levels for Base Metals

MCX Copper July as seen in the weekly chart above has opened at 383.75 levels and the starting of the week prices rallied sharply and made a high of 391.25 levels. Later on as expected prices could not able to sustain on higher levels and corrected sharply and made a weekly low of 376.80 levels. This week prices closed below the previous week’s closing of 382.55 levels and finally closed 0.48% lower at 380.70 levels. Technically prices have formed “Big Bearish candlestick pattern” which indicates further weakness.

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