5 Apr 2022 , 01:41 PM
MCX Copper futures are currently trading at Rs 828.75 per kg, up 1% on the day. The daily and hourly charts are showing a resistance coming in the play around upper Bollinger Bands. Similar formation is emerging on the for hourly charts too. However, the sheer force of the rally following the break above 20 day SMA and good pick up in volumes on hourly charts today could keep the metal supported. Near term price range in Rs 838-810 and intraday move on ether direction is likely only on a break outside range of Rs 820-830.
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