FxWirePro: Copper trades in narrow range, good to buy at dips
Pattern formed - Descending triangle Major resistance -2.135 Copper has made a high of 2.135 and slightly retreated from that level. It is currently trading around 2.105. Market awaits Fed monetary policy on Wed for furt…
Copper has made a high of 2.135 and slightly retreated from that level. It is currently trading around 2.105.
Market awaits Fed monetary policy on Wed for further direction. It is expected to trade in range bound for next two days. Any break out can be seen only after FOMC meeting
On the higher side major resistance is around 2.135 and break above targets 2.195/2.2650 level.
The commodity is facing support around 2.040 and break below will drag the commodity further down till 2.025/2.000.
It is good to buy at dips around 2.065-70 with SL around 2.040 for the TP of 2.130/2.195/2.265
