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Let's Gain - The Professional Signals Provider - Signals, Trading Systems, Technical Analysis

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Jan 08th
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Copper - Technical Analysis

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17-01-2008

copper Copper future march delivery closed down 2.9 percent yesterday in New York at 3.2415 a lb. Today the market is weak also, moving down again consistently. The global economic slowdown is reducing demand of the industrial metal and particularly from US, which uses 15 percent of world output.


We believe in a further downwards movement, first support at 3.1050 but could possibly move down to close the small gap left open on 21st december (green and red lines) at 3.0000. 

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Technical Analysis  copper  downwards  economic  support 




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