Technical Analysis of Indian Equities by Nooresh

Copper MCX – Is the Bull Market Over

FallCopper

 

Copper MCX seems to have given a bearish signal today after closing below 441.

Seems its headed to 420 levels.

Recently we had seen a double top at 466.

 

Soon we would be posting more details on commodities. This is just a quick view ! I do expect that there could be a good correction in commodities like Silver, Copper,Crude and Gold which have just over run their move. We had initiated a buy on Silver at 30k ! and 20 dollars though 🙂

 

Regards,

 

Nooresh

Article by Nooresh Merani

Nooresh has written 2601 articles.

You can follow Nooresh Tech on Facebook and Twitter here.


{ 2 comments… add one }
  • Praveen K Gupta February 22, 2011, 19:09

    Thanks Nooresh

    For timely update,yes I also see silver to correct, but gold seems to be going through a head and shoulder pattern and next target after breif up/down will be 1500 USD. please comment on same. In that situation what u see silver will be doing.

    Thanks again

    Praveen
    +91 8800798858

    Reply
    • nooresh February 22, 2011, 22:43

      Hi Praveen,

      Well for Silver i expect all the targets to be over on upside on the pattern breakout at 20 which you had brought to my notice.

      For Gold we may have an intermediate top in making not a major top.

      Copper seems to have broken down.

      Reply

Leave a Comment