Enrich Commodities India Pvt.Ltd
Published on 22/01/2018 1:05:10 PM
Copper daily chart has formed "Bullish pennant chart” pattern. The last session ended up bearish near the channel’s support near 448 and has formed an “Inverse Hammer” candlestick pattern which could be read as a trend reversal one. The market is expected retest the support level and turn bullish, testing all the way through 453-455 levels in the upcoming sessions. Alternatively, if the market breaks below the support then it might continue in bearish. The downside rally could test 445-443 levels. Resistance holds at 455.
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