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Copper chart on Trading View used for analysis
- Copper edges lower for 3rd straight session, trades 0.74% lower on the day at 2.723 at the time of writing.
- Base metals under pressure from lingering concerns over the United States-China trade spat.
- Copper slips lower as prices under pressure on strong dollar.
- Stochs are RSI are sharply lower, MACD is on verge of bearish crossover on signal line.
- Price has broken into daily cloud and break below cloud base eyes major trendline support at 2.68.
- On the flipside, 5-DMA is immediate resistance at 2.7601. Bearish invalidation only above 110-EMA at 2.7919.
Support levels - 2.7100 (cloud base), 2.680 (major trendline), 2.663 (Nov 13, 14 low)
Resistance levels - 2.7600 (5-DMA), 2.7919 (110-EMA), 2.844 (Nov 20 high)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
