Copper respects pattern's support

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Since the last review done on January 14, the price for copper has continued to trade in the ascending channel pattern. Since then there are a few notable points to note.

First of all, the 4.6000 mark is acting as resistance. It even forced the commodity into a re-test of the support of the ascending pattern and the 4.3000 mark at the end of January. However, the 4.6000 level did not manage to hold on February 9 and was passed. Moreover, the round price level shortly acted as support. Secondly, the 50-day simple moving average has been providing support since February 7. The SMA could continue to push the price up.

If the commodity price continues to surge, the 4.6000 and 4.7000 levels could act as resistance, before the high level at 4.8000 is reached. Namely, round price levels are bound to impact the rate. Above the 4.8000 level, the 2021 high level is located at 4.8900.
,br> On the other hand, a decline of copper might find support in the 4.5000 mark, the 50 and 200-day simple moving averages near 4.4500 and 4.3700, before approaching the lower trend line of the post 2021 June channel up pattern.
Back to articles

Actual Topics

Fri, 25 Feb 2022 14:57:30 GMT

USD/CNH reaches new low level

Since the last review of the USD/CNH chart done on January 27, the currency exchange rate has continued to decline in the channel down pattern. Namely, the rate approached the upper trend line of the pattern on January 30, before resuming its decline. By the end of February, the pair had reached below the 6.3100, which despite being

Fri, 18 Feb 2022 10:57:48 GMT

Tesla trades near 900.00

Throughout February, the stock price for Tesla has been bouncing around the 900.00 levels. In the meantime, the pair has been ignoring the 50.00% Fibonacci retracement level at 892.23. If the stock price recovers, it could face resistance in the 950.00 mark, which acted as resistance throughout February. Higher above, note the 61.80% Fibonacci retracement level at 975.35 and the

Subscribe to "Fundamental Analysis" feed

Abonnieren
Um mehr über die Forex/CFD Handelsplattform von Dukascopy Bank SA, sowie über den SWFX und weitere handelsbezogene Informationen zu erfahren,
rufen Sie uns bitte an oder hinterlassen Sie eine Rückrufanfrage.
Für weitere Informationen über eine mögliche Zusammenarbeit,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über die Dukascopy Bank Binären Optionen zu lernen /Forex Handelsplattform, SWFX und andere Handelsbezogenen Informationen,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über die Forex/CFD Handelsplattform von Dukascopy Bank SA, sowie über den SWFX und weitere Handelsbezogenen Informationen zu erfahren,
rufen Sie uns bitte an oder hinterlassen Sie eine Rückrufanfrage.
Um mehr über Krypto Handel/CFD/ Forex Handelsplattform, SWFX und andere Handelsbezogenen Informationen zu erfahren,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über Business Introducer und andere Handelsbezogenen Informationen zu erfahren,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Für weitere Informationen über eine mögliche Zusammenarbeit,
rufen Sie uns bitte an oder bitten Sie um einen Rückruf.