Thursday, September 29, 2011

MCX Copper
           After Big fall from higher level now it indicates to stop at this time for some kind of consolidate pattern as i think in ABC wave pattern as well as getting Fibonacci Support also near 340-352 levels. and we may see to the upper levels from onwards which could be 380 levels to completing of ABC wave pattern.

           For the longer range----- As i told before that Copper is trading in 5 wave pattern but if u look on recent low which is near 3rd wave that means it shouldn't trade in 5 wave pattern and could be ABC wave . if it is true then we could see huge downfall after completed the recent 5 wave pattern as i indicated in charts. But yes i am not sure for longer trading range and at this time i am just looking for 300 levels in MCX after completing 4th wave.

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