Increased probability copper will test major support at $3.00
High probability copper will test major support at $3.00. It is trading below the 50 day and 200 day moving averages. The 50 day has crossed the 200 day moving average. There was a tall dark shaven head and bottom ( very close) candlestick on the daily chart today. The RSI is at an oversold level but it can stay oversold for long periods and this is no reason to buy against the intermediate and near-term downtrend.
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