Copper : Technical View : 19.11.2019
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On the daily chart, the price closed flat in the
last session.
Moreover, the price has fallen after taking resistance of the Bollinger Band Median line.
Furthermore, the price has shifted below the 50*200 day's SMA’s and also it has shifted below the Parabolic Sar, which confirms weakness in the counter.
Momentum indicator RSI(14) has shown negative crossover, which confirms power to the bears.
As per the above technical structure; we expect bearish move in the first half and second Half expected to test 438 levels.
Moreover, the price has fallen after taking resistance of the Bollinger Band Median line.
Furthermore, the price has shifted below the 50*200 day's SMA’s and also it has shifted below the Parabolic Sar, which confirms weakness in the counter.
Momentum indicator RSI(14) has shown negative crossover, which confirms power to the bears.
As per the above technical structure; we expect bearish move in the first half and second Half expected to test 438 levels.