Monday, 25 May 2015

Daily Metals News and Update

On the daily chart we are observing that COPPER has a multiple resistance at 418 level. Recently after testing the same level COPPER has resulted in a “double top” which is a sign of some consolidation or profit booking from current levels. Therefore a move below Friday’s low of 409.35 can lead to a sharp fall towards 400 mark.

In addition, even the value of RSI is turning from the overbought territory.

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