. Commodity: Copper Price Technical Analysis, News and Trade Signals

Commodity: Copper Price Technical Analysis, News and Trade Signals

20 May 2022

COPPER Technical Analysis: Weekly Chart

COPPER Technical Analysis

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

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

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

The immediate support is at 4.0265 and the resistance level is at 4.3835

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

COPPER Technical Analysis: Daily Chart

COPPER Technical Analysis

In the daily charts, COPPER is trading in an upward channel.

It is trading above MA (20) but below 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 4.1195 and the resistance level is at 4.3580

COPPER is trading in an upward channel until there is a trend reversal.

How to trade COPPER this week:

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

TRADE SUGGESTION: SELL AT 3.9980, TAKE PROFIT AT 3.6925, AND STOP-LOSS AT 4.1910