Copper: receding support
H 2025 COMEX Copper: lower Bollinger Band support (bottom red line) is receding. It is common in down drafts for a market to gravitate towards its respective lower Bollinger Band (11/6-11/15). For context, on 11/15, this form of support was at 411.00. Currently it is near 404.00 and if the market does not rally soon, this form of support will decline towards 400.00 rather soon. Therefore, the market is in a vulnerable state; a close over the 20 day average near 432.00 would mitigate the fragility and help turn lower Band support in an upward fashion.
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