Copper Weekly
Critical resistance on 4 year downtrend_line, 50 sma, ( daily 200 sma ), median line channel. ( ~ 3.20 )
A break of this resistance could send the price to 3.32(100 sma)-17/2 high, and January 2014 high , 3.42. (~38.2%). MACD bullish.
Support at 3.00. Horizontal support, 50% retracement, 2005 up-channel. A break of this support could send the price to 2.55 ( 61.8% and diagonal channel ).
Could still range bound, between these two levels.
Critical resistance on 4 year downtrend_line, 50 sma, ( daily 200 sma ), median line channel. ( ~ 3.20 )
A break of this resistance could send the price to 3.32(100 sma)-17/2 high, and January 2014 high , 3.42. (~38.2%). MACD bullish.
Support at 3.00. Horizontal support, 50% retracement, 2005 up-channel. A break of this support could send the price to 2.55 ( 61.8% and diagonal channel ).
Could still range bound, between these two levels.