Copper futures penetrated the six-month ascending trend line to the downside, falling beneath the 20- and 40-day simple moving averages (SMAs). The RSI indicator is standing in the negative zone, moving sideways, while the MACD oscillator is falling below the trigger line losing some momentum. A successful drop below the 2.9280 support level may shift the recent neutral bias to bearish moving towards the 2.7960 barrier. Clearing this zone, the 2.6960 hurdle could come in spotlight before slipping to 2.5510. [..]
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