Copper Futures Hit Two-Month High, Resistance Ahead

Copper futures have been on an upward trend for over a month, hitting a two-month high of ₹1,396.55 on August 6. Since then, they have remained relatively stable, oscillating between ₹1,365 and ₹1,390.

While the trend has been consistently up, there is notable resistance in the ₹1,390-₹1,400 range. This could lead to two possible scenarios: a breakout above ₹1,400 or a moderation in price.

For traders with a high risk tolerance, shorting copper futures (Aug) at ₹1,385 may be an option. The target and stop-loss can be set at ₹1,350 and ₹1,405, respectively.