Copper Tests 14-Month Support
Copper technical analysis shows prices pulling back from multi-year resistance alongside gold and silver, towards a 14-month uptrend support.
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Copper technical analysis shows prices pulling back from multi-year resistance alongside gold and silver, towards a 14-month uptrend support.
Razan Hilal, StoneX Media Market Analyst, walks through copper's monthly and daily charts and the support lines in play.
A bearish monthly RSI divergence is raising the risk of a longer-term pullback, while the daily chart shows a potential diamond reversal pattern. The golden ratio Fibonacci retracement lines up with copper's contracting formation since 2017, and a breakout above this year's highs would bring AI demand back into focus.
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