Copper prices have moved up well in the last one week. The Copper Futures Contract traded on the Multi Commodity Exchange (MCX) has risen above 3 per cent in the past week. The contract is currently trading at ₹1,413 per kg. This rise indicates that the consolidation that was in place all through the month of August has come to an end.OutlookThe broader trend is up. The rise last week indicates that a fresh leg of upmove has begun after the consolidation. Support is in the ₹1,380-₹1,360 region. The 21-Day Moving Average is also poised in this region. That makes this zone a very strong support.Near-term resistance is at ₹1,435 which can be tested in the coming days. A decisive break above ₹1,435 can then take the MCX Copper Futures contract higher to ₹1,490-₹1,500 in the short term.A strong break below ₹1,360 is needed to turn the near-term picture negative. If that happens, a fall to ₹1,330 can be seen.But such a fall is less likely as fresh buyers are likely to come into the market and limit the downside.Trade StrategyTraders can go long now at ₹1,413. Accumulate on dips at ₹1,395. Keep the stop-loss at ₹1,370. Trail the stop-loss up to ₹1,425 as soon as the contract goes up to ₹1,445. Revise the stop-loss higher to ₹1,440 and ₹1,460 when the price touches ₹1,455 and ₹1,470 respectively. Exit the long positions at ₹1,480.Published on September 9, 2026