COPPER chart - Trading View
Copper price action has slipped below 21-EMA, scope for further downside.
The pair is trading 1.19% lower on the day at 3.978 at around 10:35 GMT.
Formation of a Gravestone Doji on the previous session's candle adds to the bearish bias.
RSI has slipped below the 50 mark and is biased lower, supporting downside in the pair.
Analysis of GMMA indicator shows bearish shift in major and minor trend on the intraday charts.
Recovery attempts in the pair are capped below 200H MA. The pair is on track to test 50-DMA at 3.883.
On the flipside, 21-EMA has now turned resistance at 4.046. Retrace above will negate any bearish bias.
