Tuesday, November 19, 2019

Copper : Technical View : 20.11.2019

Copper : Technical View : 20.11.2019

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On the daily chart, the price closed with positive note in the last session.

However, 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 counter.