COPPER: lower and lower…

By | July 22, 2015

Copper remains pressurized. In favor of further reduce red metal show several factors. As one of them are the market sentiment: commodities at this stage is clearly not in demand. In addition, signs of a slowdown of the Chinese economy continued to have a negative impact on the expectations of the consumption of copper.

The area is marked enough level 2.4155 strong support. Provided that this level will be passed, “bears” can be activated, which will lead to an acceleration of the downward trend with the immediate goal at 2.3020, all the more so, in fact, a break of this level will be output from the range in which the quotes were held in two weeks.

copper chart
Copper chart

 Trading analytics

Copper (HG)   –   sell copper   –   Entry price: 2,4155. Goal: 2,3020. Stop loss: 2,5094.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and does not guarantee a result.
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