Copper

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last few sessions been in bearish trend after retesting an interim trend line inside the channel. The market is expected to continue on bearish momentum based on the current price action, testing all the way through 438-435 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 446 then it might turn bullish once again. The upside rally could test up to 450-454 levels. Key support holds at 435.

Research Report call:

To View subscribe OR become a registered client

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last session been in bearish trend after few positive rallies inside the channel. The market is expected to continue on bearish momentum based on the current price action, testing all the way through 440-436 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 446 then it might turn bullish once again. The upside rally could test up to 450-454 levels. Key support holds at 436.

Research Report call:

Technical outlook

Copper daily chart has formed “Megaphone chart” 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 the key resistance holding at 448. The upside rally could be testing all the way through 452-456 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 440-436 levels. Key support holds at 436.

Research Report call:

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last few sessions 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 the key resistance holding at 444. The upside rally could be testing all the way through 450-454 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 435-430 levels. Key support holds at 430.

Research Report call:

Technical outlook

Copper daily chart has formed “Megaphone chart” 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 the key resistance holding at 440. The upside rally could be testing all the way through 445-450 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 435-430 levels. Key support holds at 430.

Research Report call:

Technical outlook

Copper daily chart has formed “Megaphone chart” 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 the key support holding at 430. The downside rally could be testing all the way through 428-425 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 up to 435-440-444 levels. Key resistance holds at 444.

Research Report call:

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last session been in bullish trend after a negative rally inside the channel. The market is expected to continue on bullish momentum based on the current price action, testing all the way through 440-444 levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 434 then it might turn bearish once again. The downside rally could test up to 430-428 levels. Key resistance holds at 444.

Research Report call:

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last session been in bearish trend after retesting an interim trend line inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below the key support holding at 432. The downside rally could be testing all the way through 428-424 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 up to 440-444 levels. Key resistance holds at 444.

Research Report call:

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last session been in bullish trend on a gap up formation inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above the key resistance holding at 444. The upside rally could be testing all the way through 447-450 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 438-434 levels. Key support holds at 434.

Research Report call:

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last few sessions been in bearish trend after a positive rally inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below the key support holding at 424. The downside rally could be testing all the way through 420-418 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 up to 430-434 levels. Key resistance holds at 434.

Research Report call: