Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on [email protected] HaPpY TrAdInG.

Copper Technical Outlook – ready to fall again?

29 sec read

Copper (11.11.2013) trading in very tight range form almost last 1 month.

Now copper is trading around $3.2450 & as we can see on charts , copper is not falling below the support trend line of the ascending channel which turn our focus on the next descending channel which maintaining a very strong resistance around $3.28. At the same time a day close & continue move below the 61.8% feb area also support the negativity in coming trading sessions.However some parallel support may delay the deeper fall.

On fundamental side, rising dollar, high chance of profit booking in equity market & decreasing demand from china may reduce the demand.
copper
[wp_ad_camp_5]

 

Based on above studies, we will prefer to sell copper for some downside targets around $3.20 & $3.18. Only a day close above $3.28 will force us to reanalyze the charts.

Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on [email protected] HaPpY TrAdInG.

Gold Technical Analysis – Bullish View

Gold is a one trading instrument where fundamentals are outlawed while inflation is skyrocketing and globally Central banks are racing for the interest rate...
Rajandran R
20 sec read

Gold to Hit All-Time High? How Small Investors can…

I know, in this Bitcoin era if someone is talking about Gold they could be either a 70s kid or an 80s kid. Well,...
Rajandran R
1 min read

Silver Momentum Pullback Trade Setup

After a significant momentum in Silver 11.77 to 29.85 silver started correcting in the month of Sep 2020 towards 21.66. Last week silver plunged...
Rajandran R
22 sec read

One Reply to “Copper Technical Outlook – ready to fall again?”

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More