Copper chart - Trading View
Copper has bounced off from over 3-year lows and was trading over 2% higher for the week.
Price action was largely muted on the day with session highs at 2.202 and lows at 2.167.
The pair is holding support at 5-DMA at 2.172, and technical studies are turning slightly bullish.
5-DMA is now biased higher and Stochs and RSI have rolled over from oversold levels.
200H MA is offering stiff resistance. Price action is grinding sideways along 200H MA. Break above will fuel further gains.
Bounce could be shallow as 'Death Cross' (bearish 50-DMA crossover on 200-DMA) weighs on the upside.
Breakout at 200H MA could see test of 21-EMA at 2.329. Further gains only on decisive break above 21-EMA.
Support levels - 2.172 (5-DMA), 2.094 (88.6% Fib)
Resistance levels - 2.232 (78.6% Fib), 2.329 (21-EMA)


UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty
FxWirePro: AUD/USD remains buoyant, looks to extend gains
China's Refining Industry Faces Major Shakeup Amid Challenges
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
Stock Futures Dip as Investors Await Key Payrolls Data
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge
FxWirePro: USD/CAD attracts selling interest, vulnerable to more downside
AUDJPY Powers Above 109 – Yen Weakness Fuels Aussie Bulls
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand
Geopolitical Shocks That Could Reshape Financial Markets in 2025
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data
FxWirePro: NZD/USD slips as New Zealand’s unemployment rises in Q4
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 



