Copper Futures – 15 Min Chart Analysis (MCX)

26 Haz

Copper is showing signs of a potential short-term reversal after a strong upward rally. The price action has faced resistance around 895, which is marked with a red candle and a small rejection wick (highlighted with the blue arrow).

This region could act as a supply zone, where sellers are stepping in. A short position has been initiated here with:

Stop-loss: Slightly above the recent high (~898)

Entry: Near 894.85

Target zone: Around 891.60 (as indicated by the green box)

The risk-to-reward ratio appears favorable if the price fails to sustain above 895. A breakdown below the immediate support may confirm short-term bearish momentum.

📉 Bias: Bearish below 895
🧠 Suggestion: Wait for confirmation or tight SL if taking a counter-trade position

27 Haz

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Target done and dusted