MCX Copper: In a flat pattern (Elliott Wave Analysis)

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MCX Copper tumbled till 306 levels from the top of 343 levels. On 12th April prices showed resilience and retraced faster giving an indication of reversal.

From wave perspective, prices are moving in a flat pattern (3-3-5). Where a was completed at 343.40 and wave b which retraced more than 61.8%, completed at 306. It can be said now that wave c of flat pattern has started and can move near till 343 levels.

In short, expect MCX Copper to reach till 340-343 levels over short term.

MCX Copper 1st month Contract (daily)





Comments

Phani Kumar said…
Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.
Alphalogic Techsys IPO
2 July 2020 at 16:05
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