Copper Report

Technical outlook

Copper July daily chart has formed "Rising channel" pattern. The last few sessions ended up in bullish mode 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 496. The upside rally could be testing all the way through 500-503 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish/sideways mode. Key support holds at 483.

Technical outlook

Copper July daily chart has formed "Rising channel" pattern. The last few sessions ended up in bullish mode 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 485. The upside rally could be testing all the way through 488-492 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish/sideways mode. Key support holds at 480.

Technical outlook

Copper July daily chart has formed "Rising channel" pattern. The last few sessions ended up in bullish mode 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 478. The upside rally could be testing all the way through 481-484 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish/sideways mode. Key support holds at 469.

Technical outlook

Copper July 2hr chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up in sideways mode 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 475.50. The upside rally could be testing all the way through 479-482 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish/sideways mode. Key support holds at 467.

Technical outlook

Copper July daily chart has formed "Rising channel" pattern. The last few sessions ended up in sideways mode 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 471. The upside rally could be testing all the way through 475-478 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish/sideways mode. Key support holds at 461.

Technical outlook

Copper July 4hr chart has formed "Rising wedge" pattern. The last few sessions ended up in sideways mode 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 458. The downside rally could be testing all the way through 455-452 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish/sideways mode. Key resistance holds at 468.

Technical outlook

Copper July daily chart has formed "Rising channel" pattern. The last few sessions ended up in sideways mode 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 462. The downside rally could be testing all the way through 459-456 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish/sideways mode. Key resistance holds at 468.

Technical outlook

Copper July 2hr chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up in sideways mode 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 464. The downside rally could be testing all the way through 462-459 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish/sideways mode. Key resistance holds at 467.50.

Technical outlook

Copper July daily chart has formed "Rising channel" pattern. The last few sessions ended up in sideways mode 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 465.50. The upside rally could be testing all the way through 468-471 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. Key support holds at 458.

Technical outlook

Copper July 2hr chart has formed "Rising wedge" pattern. The last few sessions ended up in sideways mode 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 459. The upside rally could be testing all the way through 462-465 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. Key support holds at 456.