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Friday, November 27, 2020

Copper (CME) (..) intraday: the upside prevails as long as 3.3460 is support



3.3460 is our pivot point.

Our preference: the upside prevails as long as 3.3460 is support.

Alternative scenario: the downside breakout of 3.3460 would call for 3.3215 and 3.3070.

Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Copper (CME) (..) is above its 20 and 50 period MA (respectively at 3.3608 and 3.3520).

Supports and resistances:

3.4440 **

3.4290 *

3.4145 **

3.4000

3.3695 last

3.3560

3.3460 **

3.3215 *

3.3070 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.

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