Copper price action very technical

On the daily chart of copper we can see very interesting technical levels that have served as good resistances or supports. First of all, the price of copper has been in a downtrend during the past few months and today it has reached a low around the 294.25 level. The current daily candle has the shape of a doji, which is an indecision Japanese candlestick pattern. The price of copper did not stalled its drop at the 294.25 level by chance, exactly at that level we can find the 55 week EMA. Below the 55 week EMA at the 294.25 level, we can find the 200 week EMA at the 279.77 level. Any of those weekly moving averages may act as an important support for copper. To the upside, the 200 day EMA (blue line) at the 302.47 level may act as resistance. That same level of the 302.47 already acted as support in the past and it may change its function to resistance. Above the 200 day EMA, its next resistance level could be the 55 day EMA (purple line) at the 313.01 level.