Copper Report

Technical outlook

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 438. The downside rally could be testing all the way through 432-426 level 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 up to 450 level. Key resistance holds at 450.

Technical outlook

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 443. The downside rally could be testing all the way through 438-432 level 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 up to 455 level. Key resistance holds at 455.

Technical outlook

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 444. The downside rally could be testing all the way through 438-432 level 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 up to 455 level. Key resistance holds at 455.

Technical outlook

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 443. The downside rally could be testing all the way through 438-432 level 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 up to 454 level. Key resistance holds at 454.

Technical outlook

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 453. The upside rally could be testing all the way through 458-462 level 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 up to 442 level. Key support holds at 442.

Technical outlook

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in bearish trend along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 444. The downside rally could be testing all the way through 440-432 level 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 up to 453 level. Key resistance holds at 453.

Technical outlook

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in bullish trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 453. The upside rally could be testing all the way through 458 level 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 up to 438 level. Key support holds at 438.

Technical outlook

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in bullish trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 447. The upside rally could be testing all the way through 451-455 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 up to 432 level. Key support holds at 432.

Technical outlook

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in bullish trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 447. The upside rally could be testing all the way through 451-455 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 up to 432 level. Key support holds at 432.

Technical outlook

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in bullish trend along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 445. The upside rally could be testing all the way through 450-455 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 up to 432 level. Key support holds at 432.