Copper (HG.FUT) - Close: 205.80 (+0.15), May 23, 2016

Chart Technical Analysis Copper (HG)

rsi chart
 Weak Negative Candidate -Medium term, May 23, 2016Analysis Explanation
Copper is within a falling trend. Continued negative development within the trend channel is indicated. Has reacted back after a break of a inverse head and shoulders formation without entirely reaching the objective at 232. A decisive break up through 211 will again give new positive signals to the future, while a break on the opposite side of the formation will be a strong negative signal. The future has support at 194 and resistance at 226. RSI is oversold. This shows that the momentum of The future is weak and that the price may decline further in the short term. We should see a rise in RSI before this is seen as a positive signal. The future is overall assessed as technically slightly negative for the medium long term.

1 day-1.03%0.10+0.07%
5 days-55.713.41%0.12-1.58%
22 days36.269.30%1.82-8.59%
66 days17.7218.02%4.75-0.63%
Trend -22%174.91 - 224.13
Long Term Trading Range2016-05-12
Short Term Trading Range2016-05-03
Moving average2016-03-14
Inverse Head and Shoulders 2016-02-26


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