COPPER chart - Trading View
Copper was trading 1.10% lower on the day at 3.988 at around 11:35 GMT, extending previous session's weakness.
Price action has failed to extend recovery above 21-EMA which is now turned stiff resistance at 4.043.
The pair is grinding lower for the 3rd straight week, technical studies keep scope for further downside.
5-week MA has turned South and price action has slipped below 200H MA on the intraday charts.
Oscillators show bearish momentum and RSI is below 50 which supports bearish momentum.
Bears now eye next major support at 3.904 (nearly converged 55-EMA and daily cloud top).
Major trend still remains bullish. Breach below cloud will change near-term dynamics.
Support levels - 3.904 (nearly converged 55-EMA and daily cloud top), 3.798 (23.6% Fib)
Resistance levels - 4.043 (21-EMA), 4.061 (200H MA), 4.084 (5-week MA)


FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/CAD extends fall, vulnerable to more downside
NZDJPY: Sell the Rallies as Bears Guard 92 and Range Trade Persists
FxWirePro: USD/JPY extends falls as Japanese yen extends rally after hawkish BoJ minutes
AUDJPY Bulls in Control: Buy the Dips Above 103.80 for a Run Towards 106
FxWirePro: USD/ZAR down trend loses steam, remains on bearish path
Bitcoin Stuck in No-Man’s-Land: $85K Dip or $100K Breakout Next?
FxWirePro: USD/CAD outlook weaker on renewed downside pressure
GBP/JPY Stuck in Holiday Neutral: Range-Bound at 210 Ahead of Christmas
FxWirePro: EUR/AUD slips following RBA minutes , plunge to test a key fibo grows
FxWirePro: USD/CNY hits 15-month low , scope for further downside
USD/CHF Bears in Control: Dips Below 0.7870 Signal More Downside Ahead
FxWirePro- Woodies Pivot(Major)
ETHUSD Dip: Prime Buy Zone to $3600 Targets
CAD/JPY Holds Positive Bias Despite Canada’s Sharp GDP Contraction: Buy Dips Toward 116 Target 



