Copper prices are followed in financial markets around the globe and the metal is growing in popularity. Copper is widely used in construction and because of its electrical properties is found in wires and circuit boards. Copper is mined in open mines around the world, with Chile and the United States leading in overall copper production.
The demand for copper is increasing as countries such as China and India continue to develop, while the supply remains tight. The growing demand and constrained supply is likely to keep copper prices volatile in the near future. Copper prices are commonly quoted in USD. Price action has broken below DMA at 3.
Technical indicators are turning bearish. Stochs are on the verge of a rollover from ovebought levels. RSI has taken a turn lower, is now biased south and has slipped below 50 levels. We see strong support A little goes a long way.
Planing to go long upon completion of C wave. Price may not be testing trend line this time. Copper Sell On Rise - Max 3. Previously, I had thought copper was taking a break and going to correct. From there we may see a pullback.
Copper has a great week with great bull power I think we will continue to see this Look out for the black trend line and i think we will follow the pattern in the chart Best of luck: Price action has shown a decisive break above minor trendline resistance at 3. Daily cloud offers strong support, we see weakness only on break below DMA at 3.
Price action chugs higher along rising channel, technical studies are biased higher. RSI is above 50 levels and Stochs I recently published a bullish idea but yestreday a major support is broken by xcu which means only one thing Everything mentioned in the chart Best of luck.
I expect the metal price to break out of the bull flag soon for upside continuation. XCU seems to have finished the correction and on the way up Look out for the break and then open long Best of luck.
Copper is trading largely unchanged on the day, retraces from lows of 3. Price action has taken support at DMA at 3. We notice Doji formation at lows on daily charts which calls for caution. Technical studies however support downside in the pair and we would recommend short position below DMA. Now looks like an interesting short play. And may the big pips stay with you! Copper will be cooling off this week i think Expect some consolidation as mentioned in the chart Will be a good idea to short from the top Best of luck.
Copper is an essential industrial metal used worldwide. Copper slips below daily Ichimoku cloud, intraday bias bearish. Can it be clear than this: Daily chart looks interesting. Show More Ideas 1 2 3 4 5 From the creators of MultiCharts.
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