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Long-Term View: IS MCX Copper Preparing For A Take-Off?

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Free mcx copper chart calls

Free mcx copper chart calls

Timeframe: Weekly

MCX Copper has accomplished wave ((4)) at 601, and started forming impulsive cycle. The price is trading in kind of the side wave for more than 33 months. Recently, the price has broken out 10 and 35 weekly moving averages.

Sub-wave c of wave (2) of wave ((4)) occured at 689.5. If the price breaks out wave B at 756, traders can trade for the following targets: 800 – 840 – 877+. Failure of breakout will lead to an invalidation.

We will update lower timeframe analysis for premium subscribers soon.

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