Copper Daily Forecast Dec 09 2014

copper
copper

Outlook in Copper remains 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..

In the medium term forecast , as long as resistance 3.059 holds on a weekly closing basis, outlook remains on the downside towards the 2.775 levels ahead of the 2.675/2.500 levels, above 3.059 will bring rebound towards the 3.290 levels before the next fall.

 

Copper Daily Forecast Dec 09 2014

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