MCX Copper Inverse Cup and Handle and Elliott Wave Analysis

 MCX Copper hourly continuous chart

As shown in the hourly chart, MCX Copper has given a bullish break in an inverse cup and handle chart and also a bullish break in a falling channel, thus opening positive possibilities. As per the pattern the target comes to 763 levels.

From Waves perspective, Copper is positively poised as it has completed a corrective wave (a-b-c) and following that it has started impulse wave, in which it has completed wave i and possibly wave ii. This opens wave iii higher which can go till 760-765 levels.

The summation is MCX Copper can achieve levels of 760-765 over short to medium term with support at 712.


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