Technical Analysis #C-COPPER : 2020-04-01

IFC Markets

Master Trader
Oct 31, 2012
1,938
10
84
London (Great Britain)
www.ifcmarkets.com
IndicatorValueSignal
RSIBuy
MACDSell
MA(200)Neutral
FractalsBuy
Parabolic SARBuy
Bollinger BandsNeutral
Chart Analysis
IFC Markets Tech Analysis

On the daily timeframe, Copper: D1 is trying to grow from its minimum in January 2016. It still remains in the medium-term downtrend, but the decline stopped and a number of technical analysis indicators generated signals for growth. We do not exclude a bullish movement if Copper rises above its last upper fractal and last maximum: 2.25. This level can be used as an entry point. The initial stop loss is possible below the Parabolic signal, the last lower fractal and the minimum since January 2016: 1.97. After opening the pending order, we move the stop loss after the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit / loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of the trend. If the price overcomes the stop level (1.97) without activating the order (2.25), it is recommended to delete the order: some internal changes in the market weren’t taken into account.

Fundamental Analysis
China demonstrated an unexpected increase in business activity in industry in March 2020. Will Copper prices grow?