Copper : Technical View : 21.11.2019
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On the daily chart, the price closed on a
negative note in the last session.
However, the price has been trading below it’s Ichimoku Cloud, which confirms weakness in the counter.
Furthermore, the price has sustained below the 20*50 day's EMA and also it has been moving below the Parabolic Sar, which confirms bearishness in Copper.
Momentum indicator RSI(14) has slipped below the 50 level, which confirms power to the bears.
As per the above technical structure; we expect bearish move in the counter
However, the price has been trading below it’s Ichimoku Cloud, which confirms weakness in the counter.
Furthermore, the price has sustained below the 20*50 day's EMA and also it has been moving below the Parabolic Sar, which confirms bearishness in Copper.
Momentum indicator RSI(14) has slipped below the 50 level, which confirms power to the bears.
As per the above technical structure; we expect bearish move in the counter