Copper Futures: Upside Breakout from Down Channel – 07 March 2023
07 Mar 2023
Copper Futures Technical Analysis: Weekly Chart
In the weekly charts, Copper Futures was trading in a down channel. Copper Futures is currently trading above all SMA except MA (50).
RSI is in the buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 3.600 & the resistance level is at 4.000
Copper Futures was traded in a down channel before there is an upside breakout.
Copper Futures Technical Analysis: Daily Chart
In the daily charts, Copper Futures is trading in an up channel. Copper Futures is currently trading above all SMA.
RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.
Its immediate support is 3.600 & the resistance level is at 4.000
Copper Futures will trade in an up channel until there is a trend reversal.
How to Trade Copper Futures this Week:
Copper Futures will follow the uptrend until its trend reversal. So, remain bullish on Copper Futures