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Coppershort

Copper finds strong support at 2.675, good to short break belowCopper edges lower from fresh 3-month highs at 2.717. The pair finds strong support at 2.675 (converged 5-DMA and trendline), weakness only on break below. Technical studies are bearish on 4 Hour charts, RSI and Stochs have rolled over from overbought levels and MACD is showing a bearish crossover on signal line. Break below 2.675 could see drag till 2.634 (1H 200-SMA). On the flipside, break above 2.717 required for further upside. 2.737 (Feb 1st high) is next bull target. Support levels - 2.675 (converged 5-DMA and trendline), 2.655 (June 29 low), 2.634 (1H 200-SMA) Resistance levels - 2.70 (1H 20-SMA), 2.717 (June 30 high), 2.737 (Feb 1st high) Good to go short on break below 2.675, SL: 2.70, TP: 2.655/ 2.634
FX:COPPERShort
by FxWirePro
Potential Breakdown in Copper FuturesCopper Futures are flirting with their support level at 2.5775, so today I'm watching to see if they break that support line, and more importantly, I will look to see what happens Thursday to see if there is confirmation of the trend. We could just as easily see Copper fall below the support line, just to bounce right back up on a false breakdown. That's why I prefer to wait a day after the initial breakdown. In terms of risk - reward, this isn't the best play as of right now. You're looking at 1.69:1 ratio, however, that does include a smaller target profit right at the 200 MA. I would begin to take profits at this range, bring my stops in tighter, and extend my profit target zones to the 2.26 zone, which presents next support level. All the best, Brandon
COMEX:HG1!Short
by BrandonBeylo