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 – Providing a Buying Opportunity.

28 sec read

Copper (05.02.2014) both side in last two months over uncertainty of world economy.

Now copper is trading around $3.2250 & as we can see on charts , copper is again taking support from long ascending trendline from where it bounced 3 times earlier. The current support area have a combination of 78.6% feb correction as well as parallel support zone just on the trendline.  Meanwhile indicators trading in oversold area , hinting for a bounce ahead. Candlestick pattern turning positive too.

 

On fundamental side, Chinese banks will be closed in observance of the Spring Festival while poor economic data from US may force dollar downside which may support metals for an upside move.

copper daily
Based on above studies, we will prefer to buy copper for possible targets around $3.29 & then may be $3.35 in coming trading sessions.

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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