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FxWirePro: Copper faces strong support around 2.090, good to buy at dips

  • Major intraday support -2.090 (55 day 4 H EMA)
     
  • Copper has major resistance 2.135 and jumped till 2.141. It is currently trading around 2.125
     
  • The commodity has declined till 2.100 yesterday and slightly recovering from that level. Intraday weakness can be seen only below 2.090 level.
     
  • On the higher side major resistance is around 2.140 and break above targets 2.195/2.2650 level.
     
  • The commodity is facing major support around 2.040 and break below will drag the commodity further down till 2.025/2.000.

It is good to buy at dips around 2.120 with SL around 2.090 for the TP of 2.195/2.265

 

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