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 mantracommodity@yahoo.com HaPpY TrAdInG.

Copper Technical Analysis – Multiple Support Zones

30 sec read

Copper (11.9.2014) traded as per our last report & after finishing the levels , fall back very quickly.

Now copper is trading around $3.0693 & as we can see on charts, its reaching to the lower tradeline current descending channel. However the momentum is very strong & it may break the channel , still few more indicators providing best opportunity for a shot covering at these levels. Current level represent 78.6% feb ret level while a most possible ABCD pattern is available at this point.

On fundamental side, improving US economic data may support copper for a while.

copper

 
Based on above studies, it is possible for copper to move upside for possible level $3.13 & then $3.17. However a day close below $3.04 will reject the forecast.

Note – above view is based on technical studies & do not represent our buy-sell recommendation. For recommendations Contact Us

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 mantracommodity@yahoo.com HaPpY TrAdInG.

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