Thursday, October 15, 2026

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FxWirePro: Bearish RSI divergence on copper charts, good to go short on rallies

Copper is extending downside from 6-month highs of 0.752 hit on Nov 27. We have noticed a bearish RSI divergence on daily charts. MACD line has also shown a bearish crossover on signal line. Support levels - 2.636 (1H 20…

By FxWirePro Team
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FxWirePro: Bearish RSI divergence on copper charts, good to go short on rallies
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  • Copper is extending downside from 6-month highs of 0.752 hit on Nov 27.
     
  • We have noticed a bearish RSI divergence on daily charts.
     
  • MACD line has also shown a bearish crossover on signal line.
     
  • Support levels - 2.636 (1H 20-SMA), 2.595 (20-DMA), 2.550 (Nov 30 low)
     
  • Resistance levels - 2.655 (5-DMA), 2.670 (Dec 8 high), 2.706 (Dec 7 high)
     

Recommendation: Good to sell rallies around 2.650, SL: 2.70, TP: 2.620/ 2.595/ 2.550
 

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