Navigation

Copper (Comex): Wait & attack

From the high of $3.861 Copper formed a five wave decline on the daily chart. The impulse made a low of $3.386 and since then copper is attempting a bounce. The key levels for the bounce are $3.625 - $3.678 ie 50% - 61.8% retracement of the fall respectively. Near these levels fresh short positions can be initiated with reversal above $3.77 ie above the 20-week moving average (WMA) and the 40-week exponential moving average (WEMA). The weekly momentum indicator is in a bearish mode. The targets on the downside would be $3.38 - $3.21 ie 61.8% -78.6% retracement marks respectively.
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: