Copper Futures Technical Analysis: Weekly Chart

In the weekly charts, Copper futures is trading within an ascending triangle.

It is trading below MA (5) but above MA (20) and MA (50).

The immediate support is 4.5816 and the resistance level is at 4.9166

Copper futures is trading within an ascending triangle until there is a breakout.

Copper Futures Technical Analysis: Daily Chart

In the daily charts, Copper futures is trading an upward channel.

It is trading below MA (5) and MA (20) but above MA (50).

The immediate support is 4.6515 and the resistance level is at 4.7820

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

How to trade Copper Futures this week:

Copper futures is trading within an ascending triangle until there is a breakout. If it breakouts, the following opportunities can be taken:

TRADE SUGGESTION: BUY AT 4.8066, TAKE PROFIT AT 4.9164 AND STOP LOSS AT 4.7025