COPPER chart - Trading View
Copper was trading 0.72% higher on the day , extends gains for the 4th straight session.
The pair has shown a decisive break above 200-DMA, raising scope for further gains.
Analysis of GMMA indicator shows minor trend is strongly bullish, while major trend is shifting bullish.
Momentum studies are biased higher. Stochs and RSI strongly support gains. However, caution advised as oscillators are in highly overbought zone.
Price action has broken above 55W EMA. Scope for test of 2.67 (nearly converged 110W EMA, channel top and 76.4% Fib).
Price action extends gains in 'Rising Channel' pattern. Break above channel will see further gains. Failure to break above will see some weakness.
