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Copper is trying to top

Since late Jan, Copper has been correcting higher. Now the daily RSI are rolling over from overbought BofA Merrill Lynch notes in a report on Tuesday: We look for a top in the confluence of resistance between 5864/6051an…

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Since late Jan, Copper has been correcting higher. Now the daily RSI are rolling over from overbought


BofA Merrill Lynch notes in a report on Tuesday:

  • We look for a top in the confluence of resistance between 5864/6051and a resumption of the larger bear trend for 5279 ahead of 4791. 

  • An impulsive break below 5621 (Feb-17 low)confirms a top and turn lower. 

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