Round Bottom and Retest in COPPER

25 de ago.

A well-defined Round Bottom formation and subsequent retest is observed in Copper Futures (MCX) on the 15-minute chart. After a prolonged downtrend, price has rounded out a base and reclaimed the neckline resistance near ₹884. This breakout was confirmed by a successful retest, with bulls defending the level and initiating upward momentum. The measured move projects a target of roughly ₹2.80 higher (0.32%) from the neckline, reinforcing the bullish bias for short-term trading.

Trade Context for Posting
Pattern: Round Bottom breakout and retest.

Instrument: Copper Futures (MCX), 15-minute timeframe.

Breakout Level: ₹884.

Target Move: ₹2.80 upside (0.32%), based on breakout projection.

Validation: Multiple tests of the neckline, clear support confirmation, and price expansion following retest.

Trade Plan: Enter long positions above ₹884, place stop-loss below the retest low, and aim for the projected target. Monitor for volume and price action confirmation for sustained gains.

This setup demonstrates classical technical structure, where bottoming and retest provide conviction for the move and risk management.

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26 de ago.

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