FIS Technical – Copper Rolling 3 Month

The Copper futures has the potential to form a range between USD 6,071 and the support zone mentioned below.

Upside moves that break and hold above the 200-period moving average and Fibonacci resistance at USD 6,175 would suggest price action is turning bullish. In the near term the 55 period MA continues to point lower suggesting resistance could hold but if an upside move changes the trajectory of the 55 period MA, price is likely to take on resistance levels.

To view the full report please click on the link