Copper

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last few sessions ended up bullish in trend retesting near the channel’s support slope line. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 414. The upside rally could be testing all the way through 418-420 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test 410-405 levels. Key support holds at 405.

Research Report call:

 Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last session ended up bullish in trend retesting near the channel’s support slope line. The market is expected to continue on bullish momentum, testing all the way through 410-415 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 405 then it might turn bearish once again. The downside rally could test 400-395 levels. Key resistance holds at 415

Research Report call:

Technical outlook

Copper daily chart has formed “Broadening top” pattern. The last few sessions ended up in bearish in trend near the channel’s support slope line. The market is expected to continue on bearish momentum, once the same breaks below the key support holding at 404. The downside rally could be testing all the way through 400-395 levels in the upcoming sessions. Alternatively, if the key support holds strong, then the market might retest the same and turn bullish once again. The upside rally could test 408-412 levels. Key resistance holds at 412.

Research Report call:

Technical outlook

Copper daily chart has formed “Broadening top” pattern. The last session ended up in bearish in trend near the channel’s support slope line. The market is expected to continue on bearish momentum, once the same breaks below the key support holding at 414. The downside rally could be testing all the way through 410-408 levels in the upcoming sessions. Alternatively, if the key support holds strong, then the market might retest the same and turn bullish once again. The upside rally could test 418-422 levels. Key resistance holds at 422.

Research Report call:

Technical outlook

Copper daily chart has formed “Broadening top” pattern. The last few sessions ended up in sideways trend but also indicates bullish momentum. The market is expected to continue on bullish momentum, testing all the way through 426-430 levels in the upcoming sessions. Alternatively, if the market been able to break below a key support holding at 420 and closes below the same in daily basis, then it might turn bearish once again. The downside rally could test 415-410 levels. Key resistance holds at 430.

Research Report call:

Technical outlook

Copper daily chart has formed “Broadening top” pattern. The last session ended up bearish in trend after few consolidations inside the channel. The market is expected to continue on bearish momentum, testing all the way through 416-414 levels in the upcoming sessions. Alternatively, if the market been able to break above a key resistance holding at 422 and closes above the same in daily basis, then it might turn bullish once again. The upside rally could test 425-430 levels. Key support holds at 414.

Research Report call:

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last session ended up consolidated but bullish in trend inside the channel. The market indicates selling pressure as the previous candlestick has taken the formation of a “shooting star” like pattern. The contract is expected to continue on bearish momentum, testing all the way through 418-415 levels in the upcoming sessions. Alternatively, if the market been able to break above a key resistance holding at 424 and closes above the same in daily basis, then it might turn bullish once again. The upside rally could test 428-432 levels. Key support holds at 415.

Research Report call:

Technical outlook

Copper daily chart has formed “Broadening top” pattern. The last session been a bearish one inside the channel. The market is expected to continue on bearish momentum, testing all the way through 416-413 levels in the upcoming sessions. Alternatively, if the market been able to break above a key resistance holding at 420 then it might turn bullish once again. The upside rally could test 425-430 levels. Key support holds at 413.

Research Report call:

Technical outlook

Copper daily chart has formed “Broadening top” pattern. The last session has taken the formation of an “Inverse hammer” candlestick pattern, which could be read as a trend reversal one. The market is expected to continue on bullish momentum, testing all the way through 425-430 levels in the upcoming sessions. Alternatively, if the market been able to break below a key support holding at 415 then it might turn bearish once again. The downside rally could test 410-405 levels. Key resistance holds at 430.

Research Report call:

Technical outlook

Copper daily chart has formed “Broadening top” pattern. The last session ended up bearish in trend after few positive rallies retesting near the channel’s support slope line. The market is expected to continue on bearish momentum, once the same breaks below the key support holding at 412.50. The downside rally could be testing all the way through 410-408 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 420-430 levels. Key resistance holds at 430.

Research Report call: