Copper Daily Forecast Dec 02 2014


Outlook in Copper has turned neutral with risk to the downside , resistance comes at the 2.912 levels ahead of the 2.943 levels (main) , a failure to hold above the 2.912 levels on a daily closing basis , could mean a return to the 2.840 /2.775 levels , a cut would open 2.670 next , further down will aim the 2.570 levels.

On the upside , break of 2.912 on a daily closing basis will open main resistance at the 2.943 levels , a halt is strongly suggested , but If this important resistance is taken out , expect the pair to strengthen further towards the 3.049/3.110 levels.

In all , as long as resistance 2.912/2.943 holds on a daily closing basis , outlook in Copper remains on the downside towards the 2.840/2.775 levels , above 2.912/2.943 faces a recovery risk towards the 3.049/3.110 levels..


COPPER Daily Forecast Dec 02 2014