Copper futures with delivery in September tumbled towards a fresh one-year low near 2.6700 over today’s trading session and are set to complete the sixth consecutive negative week. Prices remain under pressure as the 20- and 40- simple moving averages (SMAs) in the daily timeframe are acting as significant resistance levels. Technically, momentum indicators are pointing to a negative bias. The RSI indicator is moving in the oversold zone and is pointing south while the MACD oscillator is strengthening its bearish momentum below the trigger and zero lines. If there is a continuation of the strong sell-off, investors ... (full story)