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Copper chart on Trading View used for analysis
- Copper is trading largely muted at 2.757 at the time of writing.
- Price action has failed again to clear past stiff 110-EMA resistance.
- We expect prices to extend sideways grind as technical studies are neutral.
- We see immediate support at 20-DMA at 0.7499. Break below to see weakness.
- Scope then for test of major trendline support at 2.690.
- On the flipside immediate resistance is seen at 5-DMA. Break above finds next major resistance at 110-EMA.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
