Copper reversal ahead

FX:COPPER   CFDs on Copper
Copper             (19.8.14) traded lower as per expectation & reach to the support zone .

Now copper             is trading around 6913 of lme             & as we can see on charts, copper             provided a false breakout below the lower tradeline of the ascending channel .However it was able to bounce in over night electrinic trading. The bouncing area was well supported by the 61.8% feb correction of the last bull wave as well as representing a parallel support from mid june 2014. RSI recovering on day charts while on 4h overcoming 50 mark.

On fundamental side , continue improving data from US might start supporting commodities as well as in this week fed meeting is pending & expecting interest rates to keep on life time low for some more time.

Based on above studies, copper             has major probability of reversal & reach to possible levels 6970-7058 in coming trading session.

Note - above view is based on technical studies & do not represent our buy-sell recommendation
For recommendations call 088890 34986
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out