Copper futures with delivery in March 2019 have been moving in a sideways channel over the last six months with an upper boundary the 2.8530 resistance level and lower boundary the 2.5480 support. Currently, the price is easing below the 38.2% Fibonacci retracement level of the downleg from 3.3290to 2.5480 around 2.8410. The technical indicators are still located in bullish area, with the MACD flattening above its red signal line, while the RSI is losing momentum above the 50 level. In case the price continues the downside pullback, the next immediate support is coming from the 2.8010 area. A penetration of this line ... (full story)