FxWirePro: Copper weakens for the 2nd straight session, eyes 200H MA support at 4.644
COPPER chart - Trading View
Copper was trading 0.94% lower on the day at 10:20 GMT, intraday bias is shifting bearish.
Prices slipped lower for the 2nd straight session, overbought conditions weighing the pair lower.
Stochs and RSI have shown a bearish rollover from overbought levels. MACD is on verge of bearish crossover on signal line.
Spike in U.S. dollar across the board after upbeat U.S. inflation data weighs on commodity prices.
The pair has tested 200H MA at around 4.644, break below will see more weakness. Scope for dip till 21-EMA at 4.495.