Thursday, December 5, 2019

Copper : Technical View : 06.12.2019

Copper : Technical View : 06.12.2019

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On the daily chart, the price has slipped 0.13% during the last session.

Moreover, the price has shifted below the horizontal trend line, which confirms bearish strength in the counter.

Furthermore, the price has sustained below the 50*20 day's SMA, which indicates control in the hands of the beers.

On the other hand, momentum indicator RSI(14) has been moving below the level 50, which may indicate bearish indication.

As per the above technical structure; we expect bearish move in the counter.