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COPPER chart - Trading View
Copper was trading 1.18% lower on the day at 4.457 at around 10:15 GMT, bias bearish.
Prices of copper are retreating since touching a record peak of $4.8857 in the month of May.
Reports that the Chinese government will control commodity price rallies has dampened some speculative energy from the commodities market.
That said, as economies around the world commit to green revolution, demand for copper is likely to return.
Copper prices are seeing a healthy correction after a strong rally, major upside bias remains intact.
55-EMA is immediate support at 4.4132. Break below will see test of daily cloud at 4.3337. Breach below cloud will see some major downside.
