Copper completes the trading week at 6021 and continues to move as part of the decline. Moving averages indicate a downward trend. At the moment, we should expect an upward correction and a test of the resistance area near the level of 6080. Where again we should expect a rebound and an attempt to continue the fall of the Copper rate with a potential target below the level of 5515.
Copper forecast for the week December 24 — 28, 2018
In favor of reducing the Copper quotes in the current trading week December 24 — 28, 2018, a test of the downward trend line on the relative strength index (RSI) will come out. As well as a rebound from the lower boundary of the model «Triangle». Cancellation of the Copper fall option will be a strong growth and a breakdown of the 6270 region. This will indicate a breakdown of the upper boundary of the channel and continued growth of Copper with a potential target above the level of 6700. Confirmation of the downward trend will be a breakdown of the support area and closing quotes below the level of 5950.
Copper forecast for the week December 24 — 28, 2018 suggests an attempt to test the resistance area near the level of 6080. Then, the tool will continue to fall below 5515. An additional signal in favor of the Copper depreciation is the resistance line test on the relative strength index (RSI). The abolition of the Copper drop option will be a strong growth and a breakdown of the 6270 area. In this case, we should expect continued growth.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link. After registration, send the account number via the form.