26th Sep - Copper Stays Within Key Bounds
26 September 2012
WEEKLY CHART - CONTINUATION
Losses earlier this year stopped short of the rising support line, keeping longer term bears in check.
Recent recovery has the 3.9790 Feb high in its sights – a break above this would provide a bullish signal.
DAILY CHART – Dec-12:
After an earlier period of consolidation the market has recovered, with upside focus again on the earlier 61.8% resistance area, and 4.0200 Feb high.
We currently wait to see if this will be tested – an initial break higher would likely encounter resistance from the 76.4% level and channel top projection.
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