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Copper rally can start from 444 level with consecutive two closing candles OR support trendline & support will generate higher buying pressure for 444.8 – 445.6 – 446.4+ levels.
Don’t forget to mark the first runaway gap and also mark the second gap. Below 440 level, copper future is dark for the short-term.
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Fib Ret 61.8% will work as a trend changer point.
Above this point TG: 80% – 90%
Below TG: 50% – 40%
Key: Lower Trendline
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A new position can initiate on the trendline up to 44680.
Hurdle: 44300
Make a new position at trendline touch. Hurdle breakout will confirm the downtrend.
Now intraday traders know what to do next!
Above yesterday’s high and 4290 closing price, a massive upward rally will start for 4330 – 4390 – 4430 levels.
Keep your eyes on the hurdle.
Hurdle breakout: 4210 – 4200 below
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Zinc is making a Descending Triangle Pattern in the 15M chart. A breakout could fall the price up to the base range.
Rules: A complete breakout required. Beware the fake-out candle.
WARNING: Don’t make a trade above the Lower Horizontal Trendline (Support).
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As per the above chart, copper seems down for a short period. Wait for the tail and jump for 439 – 438.6 – 438 levels.
Don’t forget the hurdle (red line). This hurdle can influence the copper price up to 442.
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Everyone keeping eyes on Bullion & Energy sector commodities. Traders are missing the best trading opportunity in MCX Zinc.
Intraday/positional traders: The tail will drag up to 182 to 180.
Don’t mess after the hurdle breakout.
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