Copper (Comex): Trend remains bearish
As can be seen from the chart, the pullback got stretched till $3.83, ie junction of the 78.6% retracement of the previous fall (from $3.989 to $3.238) and the 20-monthly moving average. From there, the red metal has fallen below the 40-weekly exponential moving average and the 20-weekly moving average (WMA). It is making attempt to retest the moving averages. Overall, it is expected to fall towards the junction of the neckline and the previous low ($3.288). The weekly momentum triggered a bearish crossover and is assisting the bears in their task. The reversal has been trailed at $3.60.
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Copper may fall to USD 3.288: Sharekhan
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