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Technical Forecast for Copper

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Technical Forecast for Copper

 

Copper just held support at 7130 as hoped & headed higher beating resistance at 7212/13 as we look for 7314. We should struggle here but above 7325 could allow a push on towards resistance at 7367/69. This level should be a challenge & it may be wise to exit longs & try shorts a stop above the trend line at 7388.
 
Support at 7212 but below here could see a retest of 7130/20. We could try longs here again today , with stops below 7100. A break lower then risks a slide to support at 7047 which could hold the downside.

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Posted-In: Technicals Commodities Markets Trading Ideas

 

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