Copper

6th Januray, 2015 - Silver and Copper view

Copper 4 Hour chart

Copper is in a strong downtrend and is near a very strong support zone. Earlier today the price action suggests that copper has failed to gain momentum from this support level and could eventually break yesterday's low of 389.2. Below 389.2, the metal could fall to 386 levels. Risk takers can short at 391.5 levels with a stoploss of 393.5 and hold for the above targets. Safe trades enter shorts only below 389.2 as per your risk capacity.

Silver 4 Hour chart
Silver is trading sideways in the 36,000-37,500 range. As shown in the chart above, there is selling pressure near current levels of 37300. As long as silver doesn't break 37,750 levels, it could face selling pressure and eventually slide till 36,500/36,000 levels. Above 37,750 it could rally to 38,200/38,500+ levels.

All these trading techniques and their implementation are part of our technical analysis course which is free for those who open their brokerage account through us.
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