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LME Copper: Exit Long On The Rise

17 Apr 2017 6:13 pm
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Report For Date 17/04/2017

LME Copper: Exit Long On The Rise

LME Copper - (Price figures in $/Ton)


Exit long on rise from 5716 or above as the opportunity arises.

Resistance will be at 5685-5716.

Lower range for the week can be 5625-5534.

Correction towards DRV 5469 is likely.


WEEK LEVELS FOR LME COPPER

STRATEGY

CLOSE

DRV

TREND

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Distribution

5655.00

5469.06

UP

4787

28.10

5534

5625

5685

5716

5807

Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.

Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.


       
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