Since late Jan, Copper has been correcting higher. Now the daily RSI are rolling over from overbought
BofA Merrill Lynch notes in a report on Tuesday:
- We look for a top in the confluence of resistance between 5864/6051and a resumption of the larger bear trend for 5279 ahead of 4791.
- An impulsive break below 5621 (Feb-17 low)confirms a top and turn lower.