Monday, March 21, 2016

Copper oscillates without direction

The May contract for copper has been oscillating around the 200 day exponential moving average without taking a clear direction. Since the price coming into the consolidation had a bullish trend, then there is a higher probability of seeing a continuation to the upside. The 237 or the 243.63 could act as resistance. To the downside, the 222.00 or the 215.00 could act as support. If the Chinese economy keeps showing signs of growth, then the commodity may continue higher.


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WTI oil at the 200 day EMA

WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...