analysis
AUD USD
binary option
buy sell
Canadian Dollar
candlestick
charts
day trade
day trading
down trend
ElliottWave
Elliott Wave Theory
EUR
Euro
EUR USD
fibonacci
forecast
Forex
futures
how to trade
Japanese Yen
learn to trade
macd
make money trading
moving average
profitable trading
profits
resistance
spread betting
stochastic
stop loss
support
Technical Analysis
technical commentary
Technicals
technical trading
trade idea
trade signals
trading advice
trading education
trend line
up trend
USD
US dollar
volume
Saturday 08 May 2021
FWP Network > Forexhound.com > Analysis > Commodities Analysis > Metals > Technical forecast for Copper
Technical forecast for Copper
Metals · analysis, binary option, buy sell, candlestick, charts, day trade, day trading, down trend, fibonacci, forecast
Copper could not hold above 316 which kept us under pressure & we are close to the 309.50 target now. We are oversold short term & on the daily chart but it is not wise to fight the down trend so watch for a break lower to target 307.50/00 & possibly strong support at April & May lows of 306/305. A low for the week looks likely here.
Resistance at 312.25/65 could hold the topside but above here we could reach 313.80/85 & a high for the day likely. Any further gains should run in to problems at 316.00/30 for a selling opportunity.