Navigation

February 06, 2012,Copper Under Pressure


Copper formed a triangle in the second leg of the pullback. With the triangle breakout it formed a third leg on the upside, which achieved its equality target ($3.9). The base metal has also reached the weekly upper Bollinger Band as well as the 61.8% retracement mark ($3.95). Hence unless the key Fibonacci level is crossed on a closing basis, there is a high probability that the bears can start pushing the red metal down. The target on the downside would be the swing low of $3.38.
Share

Shubhlaxmi

Shubhlaxmi Commodity is a Free portal where you are provided all market such as Commodity stocks futures and Currency Like USD To INR and internatinol live market prices and live charts and Free support and resistance level

Post A Comment: