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Copper cracking down the lower channel line

COMEX copper Recently the price broke the key daily moving averages as well as the lower channel line. The daily momentum indicator is in bearish mode whereas the weekly momentum indicator has completed the pull-back cycle and is ready for a new cycle on the downside. Thus, copper looks poised for a fall till the recent low, ie $2.877. A reversal of the bearish view can be placed above the key daily moving averages,ie at $3.14.

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