COPPER chart - Trading View
Copper was trading 1.82% lower on the day at 4.064 at around 09:55 GMT.
Price action has slipped below 200H MA support, scope for further downside.
The pair is set to break 6-week winning streak and is on track to close weaker for the week.
After 5 straight months of upside, the pair has formed a spinning top on the monthly candle till date.
21-EMA is strong support at 4.034, break below will change near-term bias to bearish.
Major supports on the downside below 21-EMA align at 3.838 (55-EMA), 3.798 (23.6% Fib) and 3.603 (110-EMA).
On the flipside, major trend is still bullish. Bounce off 21-EMA support will see upside resumption.
