FxWirePro: Copper fails to close above 110-EMA, break below cloud to see weakness

Copper chart on Trading View used for analysis

• Copper is trading largely muted at 2.757 at the time of writing.
   
• Price action has failed again to clear past stiff 110-EMA resistance.
   
• We expect prices to extend sideways grind as technical studies are neutral.
   
• We see immediate support at 20-DMA at 0.7499. Break below to see weakness.
   
• Scope then for test of major trendline support at 2.690.
   
• On the flipside immediate resistance is seen at 5-DMA. Break above finds next major resistance at 110-EMA.

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