$Copper charts are updated on an EOD basis. EOD means End Of Day in the chart title.
The live trading of Copper this morning is $3.23
That line is very important on the long term chart for copper.
So Copper is testing last years lows at $3.24 this morning. I don't have a real time price for copper but I saw it trade down to $3.23 on the BNN ticker this morning. Previously, we were talking about copper breaking a trendline support off the rising lows. Now we are testing the horizontal level. We'll watch for the close, but it made new 1 year lows intraday.
As you can see, that is a big support level that must hold.
Good Trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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