FxWirePro: Copper breaks 20-DMA support, bias lower, good to short rallies

• Copper slips below daily Ichimoku cloud, intraday bias bearish.
   
• Price action has broken below 20-DMA at 3.1064 and is currently holding above 50-DMA at 3.0804.
   
• Technical indicators are turning bearish. Stochs are on the verge of a rollover from overbought levels.
   
• RSI has taken a turn lower, is now biased south and has slipped below 50 levels.
   
• We see strong support at 50-DMA at 3.0802, break below to see further weakness.

Support levels - 3.0802 (50-DMA), 3.0632 (cloud base), 3.05 (trendline)

Resistance levels - 3.1059 (20-DMA), 3.1142 (cloud top), 3.1345 (5-DMA),

Recommendation: Good to go short on break below 50-DMA at 3.08, SL: 3.10, TP: 3.060/ 3.050/ 3.030.

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