Copper breaking down

FX:COPPER   CFDs on Copper
Copper (19.05.2015) finally providing some directional momentum after spending more than 3 weeks in range.

Now copper             is trading around $2.8626 & as we can see on charts , after spending more than 10 trading session , finally copper             providing a downside breakout with aggressive volume . The reversal coming in copper             is from 61.8% fibonacci retracement level as well as very close to the top line of long descending channel . Below $2.8398 mark we may witness more weakness in prices.

On fundamental side , upcoming FOMC meeting on Wednesday could provide hint for a rate increase & thus may support dollar price while hurt the base metal sector. China still not performing well in respect to economic data.

Based on above studies, we prefer to stay on sell for possible levels around $2.80 followed by 2.7050 in coming trading session.
Note - Above technical analysis is not a buy/ sell recommendation. Email us at
MCX             levels -> S2(393) S1(401.80) cmp(407) R1(409.70) R2(416.50)

More reports @

good coll now ?
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