Copper to move lower.
Updated
Copper - Intraday - We look to Sell a break
We are trading at overbought extremes.
With signals for sentiment at overbought extremes, the rally could not be extended.
A higher correction is expected.
Rallies should be capped by yesterday's high.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Short term MACD has turned negative.
Our profit targets will be 33510 and 32850
Resistance: 34800 / 35000 / 35200
Support: 34600 / 34200 / 34000
We are trading at overbought extremes.
With signals for sentiment at overbought extremes, the rally could not be extended.
A higher correction is expected.
Rallies should be capped by yesterday's high.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Short term MACD has turned negative.
Our profit targets will be 33510 and 32850
Resistance: 34800 / 35000 / 35200
Support: 34600 / 34200 / 34000
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