MCX Copper: Elliott Wave count, Channels and RSI

MCX Copper: Elliott Wave count, Channels and RSI

The below article shows how we can combine basic technical analysis along with advanced techniques like Elliott wave theory. MCX Copper shows very clear wave counts and when combined with Channeling technique and RSI gives high probability trading setup.

MCX Copper 60 mins chart:

A few of the wave counts are deleted as it is meant for our paid subscribers of Commodity research report “The Commodity Waves Short term Update” by Waves Strategy "www.wavesstrategy.com"

We have mentioned in the previous report, “In short, as long as prices move below the resistance of 432 levels our bias is negative. Breach of previous day low of 429 will take prices lower till the next support of 426”. BANG ON

MCX Copper moved as expected. Prices continued the previous day move and moved lower till 424.65 levels, as expected.

Currently prices have arrived near the lower end of the blue channel and inched higher. On intraday basis prices might take support of this channel and it might move higher till ….

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