COPPER chart - Trading View
Copper dived over 2.35% on the day to hit 9-day low at 4.585 at around 11:20 GMT.
The pair is set to extend downside as price action slips below 200H MA.
Technical indicators have turned bearish, Stochs and RSI have rolled over from overbought levels and are biased lower.
The pair is extending weakness after Gravestone Doji formation in the previous session.
MACD confirms a bearish crossover on signal line adding to the bearish bias. 5-DMA is biased lower.
Price action has shown a decisive break below 200H MA, scope for further downside. Copper is on track to test 21-EMA at 4.549.
