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27.09.2007 - Technical Analysis for Copper

  • Description

Date: 2007-09-27 09:56

Is this the moment where the Copper market will initiate its corrective movement? I really don’t know, but what I do know is that the market will inform investors about its future movements.

Market: COPPER
Interval: H1
Levels:
Support – 7942
Resistance – 8088

Description:

What should investors pay attention to? There are two levels, which limit market movement. The first is the 8088 resistance, which if broken would be a signal that the market will continue its increase run to the following levels: 8223 and 8258. The second level limiting market movement is 7942. Breaking this level would be a signal that a corrective movement is probable. The first level where the bulls could show their power is 7807, though what has to be mentioned is that a deeper correction to the level of 7635 is possible but not very probable.

Pic.1


Omar Arnaout