copper hourly
copper 15 min
As drawn on the hourly & 15 minute copper chart, price came out of the bull wedge on hourly chart but not spiked up. But on 15 min chart I can easily smell the upmove because of the smaller period exponential moving averages are crossing longer ones.
Price is 2.609 & Rs 407.30 on MCX India. I took the long trade. Let's hope for good. Jay Shriram.
Update first, 4th Jan 02.35 IST
copper hourly
In last 24 hours, price went down & came back at the point, where we bought the long trade. Here is hourly chart & price is 2.610 but it is trading with 2 rupees discount on MCX because of lack of proper volume. It will uplift itself within next few hours.
Price is quoting above black trend line, above 12 MA, convergence line of Ichimoku crossed base line upwards, Supertrend gave buy signal. Everything is with our trade. Let's hope for good. Jay Shriram.
Update second, 4th Jan, 09.34 pm IST
Finally our trade is successful. Price went above ichimoku cloud, I am using trailing sl method to protect my profits now. CMP is 2.635. We bought long position at 2.609. On our local Indian MCX copper price is trading at Rs 408 above, we entered at 407 around. I am unable to understand Rs 2 discount on MCX price for copper. There is no big volatility on forex front regarding USD/INR. God knows the reason. Enjoy profits saying Jay Shriram.
Last update, 7th Jan, 11.40 am IST
copper hourly
CMP of copper is Rs 409 + on MCX India & 2.644 as CFD . We are now in profit. I am going to stop updating this post because you can use trailing sl method and protect or book your profits now. Enjoy profits, Jay Shriram.
