Copper (Comex): Bears having upper hand

With the triangle breakout copper formed a third leg on the upside, which achieved its equality target ($3.9). The base metal also reached near the 61.8% retracement mark ($4.02). Since then it has resumed with the medium term downtrend. It is forming impulses on the downside. The weekly momentum indicator is in a bearish mode. The red metal has formed a ‘Popgun’ pattern and the breakout level for that is $3.238. The other end of the pattern ($3.478) will act as a key resistance. The targets on the downside would be $2.994, ie the previous low, and $2.58, ie the equality target.


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: