Copper broke below the bear flag formation and resistance and the 20 DMA kept upside limited despite additional stimulus from China.
Possible retest of 2550 levels as sellers dominate in this market and the RSI has yet reached oversold area.
Daily candlestick is bearish after a doji and a red engulfing flag. So we expect more downside here as the downtrend channel is in tact.
Only a break above 2660 will invalidate the bear rout while a break below 2550 will target 2420 levels.
Possible retest of 2550 levels as sellers dominate in this market and the RSI has yet reached oversold area.
Daily candlestick is bearish after a doji and a red engulfing flag. So we expect more downside here as the downtrend channel is in tact.
Only a break above 2660 will invalidate the bear rout while a break below 2550 will target 2420 levels.