futurespress's Commentaries
Mar
15
2010
Copper can’t break $3.50
by futurespress
Overall Rating:
Copper has had some significant resistance up at the $3.50 level failing three times there now and once falling all the way down to $2.80. Even after the Earthquake in Chile (One of the main Copper markets in the world) the base metal, although +20 cents to $3.48 could not break the $3.50 level. If an 8.8 earthqauke cannot rally this market passed that level than I do not see anything breaking this level just yet. The MACD and slow stochastics looks to be pointg downward on the daily chart and this means of lower prices to come.
Tags: metals
