Commodity: Copper Price Technical Analysis, News and Trade Signals

Commodity: Copper Price Technical Analysis, News and Trade Signals

Copper Technical Analysis

COPPER Technical Analysis: Weekly Chart

Copper Price Technical Analysis

In the weekly charts, COPPER is trading below its previous upward channel.

It is trading below MA (20) and MA (50) but above MA (100).

RSI is in selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness.

The immediate support is at 3.9296 and the resistance level is at 4.4286

RIPPLE is trading outside and below its previous upward channel until there is a trend reversal.

COPPER Technical Analysis: Daily Chart

Copper Price Technical Analysis

In the daily charts, COPPER is trading in a downward channel.

It is trading below all SMAs: MA (20), MA (50), and MA (100).

RSI is in selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness.

The immediate support is at 4.0366 and the resistance level is at 4.2048

RIPPLE is trading in a downward channel until there is a trend reversal.

How to trade COPPER this week:

COPPER is trading outside and below its previous upward channel until there is a trend reversal and the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 3.8530, TAKE PROFIT AT 3.4422, AND STOP-LOSS AT 4.0756

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