Copper Report

Technical outlook

Copper daily chart has formed “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 417. The upside rally could be testing all the way through 420-425 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 410 levels. Key support holds at 410.

Technical outlook

Copper daily chart has formed “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 411. The upside rally could be testing all the way through 415-418 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 405 levels. Key support holds at 405.

Technical outlook

Copper daily chart has formed “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 411. The upside rally could be testing all the way through 414-418 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 404-400 levels. Key support holds at 400.

Technical outlook

Copper daily chart has formed “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, testing all the way through 403-400 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 411 then it might turn bullish once again. The upside rally could test up to 415-420 levels. Key support holds at 400.

Technical outlook

Copper daily chart has formed “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, testing all the way through 404-400 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 412 then it might turn bullish once again. The upside rally could test up to 416-420 levels. Key support holds at 400.

Technical outlook

Copper daily chart has formed “Descending broadening wedge” pattern. The last session been in bullish trend after few negative rallies 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 412. The upside rally could be testing all the way through 416-420 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 404-400 levels. Key support holds at 400.

Technical outlook

Copper daily chart has formed “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 400. The downside rally could be testing all the way through 398-395 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 up to 406-412 levels. Key resistance holds at 412.

Technical outlook

Copper daily chart has formed “Descending broadening wedge” pattern. The last session been in bullish trend after few negative rallies inside the channel. The market is expected to continue on bullish momentum based on the current price action, testing all the way through 409-412 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 403 then it might turn bearish once again. The downside rally could test up to 400-397 levels. Key resistance holds at 412.

Technical outlook

Copper 4hr chart has formed “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 above a key resistance holding at 400. The downside rally could be testing all the way through 398-395 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 up to 406-410 levels. Key resistance holds at 410.

Technical outlook

Copper 4hr chart has formed “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 412. The upside rally could be testing all the way through 416-420 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 408-404 levels. Key support holds at 404.