Copper Report

Technical outlook

Copper Oct future 4hr chart has formed "Rising channel" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is still expected to continue on bearish momentum based on the current price action, once the same break below a key support holding near 515.50. The downside rally could be testing all the way up to 512.50-509 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might revise the trend to bullish/sideways mode. Key resistance holds at 519. A slide to 522-525.50 is also a possibility if the price makes or break above the current resistance level.

Technical outlook

Copper Oct future 4hr chart has formed "Rising wedge" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is still expected to continue on bearish momentum based on the current price action, once the same break below a key support holding near 516.50. The downside rally could be testing all the way up to 513.50-510 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might revise the trend to bullish/sideways mode. Key resistance holds at 519.50. A slide to 523-526 is also a possibility if the price makes or break above the current resistance level.

Technical outlook

Copper Sept future 2hr chart has formed "Rising channel" pattern. The last session ended up sideways along with some corrections inside the channel. The market is still expected to continue on bullish momentum based on the current price action, once the same break above a key resistance holding near 532. The upside rally could be testing all the way up to 535-538 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might revise the trend to bearish/sideways mode. Key support holds at 529. A slide to 526-523 is also a possibility if the price makes or break below the current support level.

Technical outlook

Copper Sept future 2hr chart has formed "Rising channel" pattern. The last session ended up bearish retesting near the channel’s support line. The market is still expected to continue on bearish momentum based on the current price action, once the same break below a key support holding near 523. The downside rally could be testing all the way up to 520-517 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might revise the trend to bullish/sideways mode. Key resistance holds at 526. A slide to 529-532 is also a possibility if the price makes or break above the current resistance level.

Technical outlook

Copper Sept future 4hr chart has formed "Rising wedge" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is still expected to continue on bullish momentum based on the current price action, once the same break above a key resistance holding near 538. The upside rally could be testing all the way up to 541-544 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might revise the trend to bearish/sideways mode. Key support holds at 532. A slide to 529 is also a possibility if the price makes or break below the current support level.

Technical outlook

Copper Sept future 2hr chart has formed "Rising wedge" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is still expected to continue on bullish momentum based on the current price action, once the same break above a key resistance holding near 532. The upside rally could be testing all the way up to 535-538 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might revise the trend to bearish/sideways mode. Key support holds at 529. A slide to 526-523 is also a possibility if the price makes or break below the current support level.

Technical outlook

Copper Sept future 4hr chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is still expected to continue on bullish momentum based on the current price action, once the same break above a key resistance holding near 530.50. The upside rally could be testing all the way up to 533.50-536.50 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might revise the trend to bearish/sideways mode. Key support holds at 527.50. A slide to 524.50-521 is also a possibility if the price makes or break below the current support level.

Technical outlook

Copper Sept future 4hr chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is still expected to continue on bearish momentum based on the current price action, once the same break below a key support holding near 528. The downside rally could be testing all the way up to 525-522 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might revise the trend to bullish/sideways mode. Key resistance holds at 531. A slide to 534-537 is also a possibility if the price makes or break above the current resistance level.

Technical outlook

Copper Sept future 4hr chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is still expected to continue on bullish momentum based on the current price action, once the same break above a key resistance holding near 529.50. The upside rally could be testing all the way up to 533-536 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might revise the trend to bearish/sideways mode. Key support holds at 526.50. A slide to 523-520 is also a possibility if the price makes or break below the current support level.

Technical outlook

Copper Sept future 4hr chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is still expected to continue on bullish momentum based on the current price action, once the same break above a key resistance holding near 525.50. The upside rally could be testing all the way up to 529-532 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might revise the trend to bearish/sideways mode. Key support holds at 518. A slide to 515 is also a possibility if the price makes or break below the current support level.