( Kitco News ) – Copper has been moving lower in the EU session leading into the North American open. The US markets are closed due to a public holiday but that has not stopped the price falling 1.28%.
The green support level at $3.0980 per pound has held firm so far. Beyond that there are two key areas to watch. The mean value area where most contracts have been traded (at $3.07). Below that there is another level near $3.02 that could stem the losses too.
On the topside, the previous wave high is the target for the bulls. $3.2080 is the point at which the bull trend is back on. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor […]
November 12, 2020 (updated November 12, 2020) Published by StockMan