COPPER

Copper daily chart has formed “Falling wedge” pattern. The last session ended up bearish retesting the channel’s resistance slope line. The market is expected continue on bearish momentum, testing all the way through 448- 445 levels in the upcoming sessions. Once the market reaches the support level then it might retest the same and turn bullish. Alternatively, if the market breaks above the resistance level holding at 455 then it might turn bullish once again. The upside rally could test 458-460 levels. Support holds at 445.

Post Comment