Copper is bearish for medium-long term .Currently Copper is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The oscillator is showing SELL signal For short term Copper is in SELL position.Positionally Immediate support for Copper is 427.Resistance for the Copper is 449-451-453-455-463-
Short term and Intraday Level of COPPER
Currently Copper is in SELL position The Copper is in downtrend For short term buy only if close above 440.0 The Copper is now trading in highly oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 440.1 with a stop at 432.2 Below 430.1 go for sell and put stop at 438
Intraday Resistance of COPPER are 439.2 : 442.6 : 450 : 456.2 : 462.5 : 467 : 471.5
Intraday Support of COPPER are 431 : 427.6 : 420.5 : 414.5 : 408.6 : 404.4 : 400.2
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Even I feel the same that Copper is in strong downtrend and the trend is supported with good volume and the open interest is not increasing with trend.
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