COPPER chart - Trading View
Copper erases early gains, slips lower from session highs at 4.5795 and was trading at 4.5087 at around 11:15 GMT.
The pair is struggling to hold break above 21-EMA. Bearish 5-DMA crossover on 20-DMA raises scope for downside.
Momentum indicators are bearish. Stochs and RSI are biased lower and RSI has slipped below 50 mark.
MACD supports downside with a bearish crossover on signal line. Price action is below 200H MA.
'Bearish RSI Divergence' on the daily charts adds to the downside pressure. Scope for further weakness.
Major trend still remains bullish, pullbacks are likely to be shallow. The pair is consolidating after 2 straight weeks of downside.
Copper price is extending choppy trade around 21-EMA. Prices are on track to test 55-EMA at 4.3341. Major weakness only on break below.


FxWirePro: USD/ZAR shows upside momentum, but bearish outlook remains
FxWirePro: EUR/NZD tight ranges prevail as market waits for fresh catalyst
FxWirePro: GBP/NZD stuck in narrow range , outlook bearish
FxWirePro- Woodies pivot (Major)
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/AUD holds narrow range, focus on near-term support
FxWirePro- Major European Indices
Aussie-Yen Pulls Back to 114 — But Bulls See a Dip-Buying Run to 117
FxWirePro- Major Pair levels and bias summary
Euro-Yen Retreats From 186.20 Peak, but Bulls Reload for a Run at 188
FxWirePro USD/CAD steadies around 1.3910,retains bid tone
FxWirePro: USD/JPY nears 160 as intervention risk intensifies
FxWirePro: GBP/USD falls to two-day low, scope for further downside
FxWirePro: AUD/USD softens as risk appetite abates
FxWirePro: GBP/NZD gains some ground but outlook is bearish
FxWirePro- Woodies pivot (Major) 



