Expect Copper to trade with negative bias: Sharekhan

Sharekhan has come out with its report on Copper. According to the research firm, it is expected to trade with a negative bias going forward for targets of 414 on the downside.

Copper: Bearish setup

Copper has been witnessing a sharp correction after the pullback rally. In the last trading session, it made a lower low, indicating the selling pressure in the metal shall continue going ahead. We expect copper to trade with a negative bias going forward for targets of 414 on the downside. The momentum indicators have triggered a negative crossover, which indicates a bearish bias and supports our bearish view on the metal. The reversal of the view is above 444.5.

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To read the full report click on the attachment