Copper 3-year weekly chart analysis

Copper could test major support

Copper weekly chart showing the major downtrend, intermediate downtrend and the near-term downtrend

Copper is trading below the 200-day and 50-day moving averages. The major trend is down. The intermediate trend is down. The near-term trend is down. And copper could test the major support zone in the above weekly chart.

The TSX Index will not break resistance of 13,500 with the negative implications of this chart on the materials sector.

Reference the last chart analysis for copper.


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