Chart analysis of Copper: The near-term trend is down

There is a tentative break of the intermediate support level
The near-term trend for copper is down and the intermediate trend is sideways.  There is a tentative break of the $3.70 support level.

One Year Copper Chart

The intermediate trend for copper is sideways and the near-term trend is down. There was a tentative break of the $3.70 support level. In this case, I am using a 3% filter to confirm the break so I am looking for a close of $3.59 to move from tentative to confirmed.

Reference the last chart analysis of copper posted on March 30, 2012.


Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.

© 2012

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