Enter short below 327
Study the attached chart carefully. Since yesterday fall, copper price is moving in a downward channel, it sustained within the channel for whole day today. You can see second last candle, attempt failed to cross resistance line of the channel placed near 330 and it returned back in channel. Now price is 329.55 mcx. Looking @ the chart structure, it should come down towards 323 to 324 , where it will get support from the support line of this channel. Take positions only after price break below 327 mark, which is now support.
Make your study carefully and then trade, use sl for protection of capital. Wish you happy trading.
Update 4th aug 2016
Nothing to say in words, today's chart is attached here.
327 looks very important support. Thank you sir for the analysis.
ReplyDeleteThankyou so much for sharing this information with us.
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Goldberlin