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ForexSRB
Number of messages : 1555
Points : 3377
Date of Entry : 2014-06-26
Year : 37
https://www.fxsforexsrbijaforum.com/

Copper

on Thu Mar 15, 2018 10:29 am
No signs of improvement


INDICATOR
Opinion Short Term Negative
Resistance 1 326.88USD
Support 1 297.44USD
Opinion Mid Term Bearish
Support 2 292.54USD
Resistance 2 331.78USD

STRATEGY
Below 326.88 USD the major trend remains bearish 297.44 USD and then 292.54 USD are in the line of sight. The surpassing of 326.88 USD would cancel this anticipation and favor a recovery toward 331.78 USD.

SUMMARY
The MACD is negative and lower than its signal line. This configuration is damaging the commodity perspectives. Power indicators, like the RSI, are not giving any particular signals. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are more than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The commodity is oriented to the downside. It is under its 50-day moving average located at 318.31. The 20-day moving average (lower than the 50-day moving average) is maintaining the prices under medium-term sell pressure. Our first support is at 297.44 USD and the next is at 292.54 USD; the resistances, located at 326.88 USD and at 331.78 USD must be exceeded for the trend to undergo a reversal.
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