06th Dec - Copper Bounded by 76.4% Levels
06 December 2012
WEEKLY CHART - CONTINUATION
On the long term chart copper prices are supported by the rising support line, resistance coming in at/below the 3.9790 Feb high.
DAILY CHART – Mar-13:
On this chart it’s all about 76.4% levels. The 3.2900 Jun lows were established around a 76.4% pullback level (not shown), while the ensuing recovery found resistance from a 76.4% level in Sep.
Subsequent pullback was supported by 76.4% and now we wait to see if the current 3.7400 76.4% bounce level provides resistance – it coincides with prior congestion too.
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