Copper Price Outlook: Uptrend Pauses After Printing Two-Month High | Metals Mine

  • Copper Price Outlook: Uptrend Pauses After Printing Two-Month High

    From dailyfx.com

    On July 17 Copper started an upward trend as expected in our previous update after creating a higher low at $5,928, then on Friday the metal spiked and printed $6,171- its highest level in over nine weeks however, the price slipped back after falling below 6,100 handle. Alongside this, the Relative Strength Index (RSI) rose to 61 then U-turned to 52 emphasizing the lack of momentum to keep pushing the price higher. Looking at the daily chart we notice today Copper eyes the low-end of the current trading zone $5,975 - $6.088. Therefore, a close below the low end could press the price towards $5,911 although, the ... (full story)

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swagtrading
Jul 23, 2019 11:47am
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By and large expected, as Copper needs to move above 2.75 on a sustained closing basis to show any new uptrend emerging. Till then, its in a trading range

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