FxWirePro: Copper edges higher from session lows at 2.912, finds strong support at 20-DMA

Copper chart - Trading View 

• Copper has once again taken support at 20-DMA, weakness only on break below.
   
• Price action is consolidating break above 200-DMA and we see scope for further  gains.
   
• Technical studies on the daily and weekly charts support gains. But slight bearish divergence on Stochs keeps scope for downside.
   
• Break below 20-DMA support can see dip till 55-EMA at 2.8236. Bullish invalidation only below 200-DMA.
   
• On the upside, we see scope for test of 61.8% Fib at 3.019. Further momentum will take the pair to 3.132 (76.4% Fib). 

Support levels - 2.9172 (5-DMA), 2.9066 (20-DMA), 2.874 (Mar 8 low)

Resistance levels - 2.979 (Feb 25 high), 3.019 (61.8% Fib), 3.132 (76.4% Fib)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.