MCX Copper Prices See Uncertain Outlook Amid Recent Decline

Copper prices have declined on the Multi Commodity Exchange (MCX) in recent days. The MCX Copper Futures contract reached a high of ₹1,431 per kg last Thursday and has since fallen to a low of ₹1,350 on Tuesday.

Currently, the contract is trading at ₹1,372 per kg as it attempts to bounce back from its lows. The near-term outlook for the MCX Copper Futures contract is uncertain, with support in the ₹1,350-₹1,340 region holding well for now and resistance around ₹1,390.

Traders are advised to stay out of the market due to the unclear immediate outlook. A breakout above ₹1,390 could ease downside pressure and potentially take the contract higher to ₹1,435 or even ₹1,500 levels if it surpasses ₹1,435.