Tuesday, February 2, 2016

Good resistance on copper

The March contract for copper has found a good resistance area on the 206.00 level. Even though in some occasions the price has tried to break above the 206.00, by the end of the day the price closes below the 206.00 level as shown on the daily chart. If the price retraces to the downside, then the 200.00 could act as support. On the other hand, if the price breaks above the 206.00 level, then the 215.00 could act as resistance.


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