COPPER 4H Chart: Heading lower

Just like the recently reviewed Brent oil             price, copper             is being looked at due to the recent surge in volume of trading of the metal.

Almost a month ago the price of copper             was going higher without anything suggesting that a decline might soon begin. That remained the case until the commodity price encountered the 3.25 mark. Afterwards a decline began, which has resulted in a channel down pattern.

The channel down is set to guide copper             lower until the commodity encounters the support line of the more dominant channel up pattern somewhere near the 3.10 level.
See more at the Dukascopy Analytics page

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