3 weeks ago
Copper Futures Near Support as Broader Uptrend Holds
Copper prices have mostly stayed between ₹1,365 and ₹1,400 for about two weeks.
They have fallen during the last two trading sessions.
The price is now close to an important support level at ₹1,365.
Support is a level where prices may stop falling.
If that level holds, copper could rise above ₹1,400 and reach ₹1,430.
If the level breaks, copper could fall to ₹1,350 and then ₹1,325.
The article says the longer-term trend still points upward.
Traders were told to close an earlier short trade and consider buying with a stop-loss at ₹1,325.
August copper futures have moved sideways between ₹1,365 and ₹1,400 since August 5.
The contract recently fell for two sessions and is now near the lower end of that range.
Support at ₹1,365 coincides with the 21-day moving average and could trigger a renewed rally.
A successful rebound could push prices above ₹1,400 and toward ₹1,430.
If ₹1,365 breaks, prices could fall to ₹1,350 and then ₹1,325; traders were advised to exit shorts and consider new longs.
- Who
- Copper futures traders and the August copper futures contract.
- What
- Copper futures are moving sideways near ₹1,365 support, with a possible rally or further decline ahead.
- Where
- When
- Published August 19, 2026; the contract has traded in its current range since August 5.
- Why
- The contract is near support at ₹1,365, where the 21-day moving average coincides, while the broader trend remains bullish.
Bullish Case
Bearish Case
Direction from support
Bullish Case
If ₹1,365 holds, copper futures could resume their rally, move above ₹1,400 and reach ₹1,430.
Bearish Case
If ₹1,365 is breached, the near-term outlook could turn bearish, with declines toward ₹1,350 and ₹1,325.
Trading approach
Bullish Case
Traders can initiate fresh long positions at ₹1,370 with a stop-loss at ₹1,325 and an exit target of ₹1,430.
Bearish Case
The earlier short trade from ₹1,385 for a ₹1,350 target should be exited near the current price of ₹1,370 because the contract is close to support.
Key facts
- Current price
- ₹1,370 per kg
- Recent trading range
- ₹1,365–₹1,400
- Key support
- ₹1,365
- Potential upside target
- ₹1,430
- Potential downside targets
- ₹1,350 and ₹1,325
- Suggested stop-loss for fresh longs
- ₹1,325
- Publication date
- August 19, 2026
Sources
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