FxWirePro: Copper struggles at 50-DMA, bearish RSI divergence keeps downside bias intact

• Copper edges higher after failure to close below 100-DMA.
   
• However, upside seen struggling at 50-DMA at 2.6742 which is also major trendline resistance.
   
• We have evidenced a bearish RSI divergence which keeps downside bias intact.
   
• Momentum studies are neutral, break above trendline could see test of 2.767 (Mar 1 high).
   
• On the flipside break below 100-DMA could see scope for test of 2.485 (trendline support).

Support levels - 2.6535 (5-DMA), 2.6452 (20-DMA), 2.6204 (100-DMA), 2.485 (trendline)

Resistance levels - 2.685 (session high), 2.70, 2.7151 (cloud top), 2.752 (Nov 28 high)

TIME  TREND INDEX  OB/OS INDEX    

1H          Bullish                Neutral       
4H          Neutral               Neutral       
1D          Neutral               Neutral        
1W         Neutral               Neutral