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FxWirePro: Copper slips below 200H MA, poised for further downside

Friday, October 22, 2021 1:21 PM UTC

COPPER chart - Trading View

Technical Analysis: Bias Bearish

- Copper was trading 0.22% lower on the day at 4.5473 at around 13:00 GMT

- Price action is extending previous session's slump, more weakness on cards

- RSI shows bearish rollover from overbought levels

- 5-DMA has turned, the pair has slipped below 200H MA

- GMMA indicator has shown a bearish shift on the intraday charts

Support levels - 4.451 (21-EMA), 4.388 (20-DMA), 4.362 (55-EMA)

Resistance levels - 4.597 (200H MA), 4.643 (5-DMA), 4.809 (Upper BB)

Summary: Copper poised for more weakness. Dip till 21-EMA likely. Breach below to see more downside.

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FxWirePro: Copper slips below 200H MA, poised for further downside

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