MCX Copper turning bullish from support zone 📈

Metals stocks may resume the bullish momentum.

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#Commodity
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MCX Aluminium- Forming the base 📈

The price is taking support at the medium-term horizontal trendline (green) placed at the key psychological level of Rs.200.

The short-term breakout (red) indicates the bulls can be in the game after reversing from support zone.

The bullish momentum can be on cards till Rs 195 is negated.

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MCX Copper - Death Cross, An Opportunity for Bears 📉


MCX Copper has reversed from its 6-month support line and psychological level of Rs 700.
However, the situation demands careful consideration due to the looming possibility of a death cross formation.

Here are the key details you need to know:

⚠️ Death Cross Alert: A death cross occurs when a security's short-term moving average (50DEMA) crosses below its long-term moving average (200DEMA), indicating a potential bearish trend.

📈 Crucial Resistance Level: To negate the bearish outlook, MCX Copper needs to close above the 743 level. Until that happens, the bearish sentiment may persist, offering potential profit opportunities for traders with bearish inclinations.

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