Copper Technical Analysis (COMEX E-Mini) - Prices are pulling back from resistance at the top of an emerging rising channel to approach support at 3.112, the 38.2% Fibonacci expansion. A break below that targets the channel bottom at 3.054 and the 50% level at 3.024. Resistance is reinforced by the 23.6% Fib at 3.221, with a reversal above that eyeing a horizontal pivot level at 3.270.
Daily Chart - Created Using FXCM Marketscope 2.0
(http://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2013/07/18/Commodities_Gold_Crude_Oil_Remain_Focused_on_Bernanke_Commentaryhtml)
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