Copper Price Outlook: Uptrend Pauses After Printing Two-Month High

Copper Price Forecast

铜价预测

• Copper chart and analysis.

  铜图

• Coppers price action.

  Coppers价格行动。

Copper Price – Stalled Upward Move

铜价 - 停滞向上移动

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On July 17 Copper started an upward trend as expected in our previous update after creating a higher low at $5,928, then on Friday the metal spiked and printed $6,171- its highest level in over nine weeks however, the price slipped back after falling below 6,100 handle.

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Alongside this, the Relative Strength Index (RSI) rose to 61 then U-turned to 52 emphasizing the lack of momentum to keep pushing the price higher.

除此之外，相对强弱指数（RSI）上升至61，然后U-变为52强调缺乏推动价格上涨的动力。

Having trouble with your trading strategy？ Heres the #1 Mistake That Traders Make

您的交易策略出现问题？交易员犯下的第一个错误

Copper DAILY PRICE CHART (July 15, 2017 – JUly 23, 2019) Zoomed out

铜每日价格表（2017年7月15日 - 2019年7月23日）缩小

Copper DAILY PRICE CHART (APril 1 – JULY 23, 2019) Zoomed In

铜每日价格表（APril 1 - 2019年7月23日）放大

Looking at the daily chart we notice today Copper eyes the low-end of the current trading zone $5,975 - $6.088. Therefore, a close below the low end could press the price towards $5,911 although, the weekly support level underlined on the chart (zoomed in) needs to be considered. See the chart to find out more about the next significant support the price may face in a further bearish scenario.

看看今日我们注意到的日线图铜看当前交易区的低端5,975美元 - 6.088美元。因此，收盘价低于低点可能会将价格压向5,911美元，但需要考虑图表中的下划线（放大）的每周支撑位。请参阅图表，了解更多有关价格可能在进一步看跌情况下可能面临的下一个重要支撑。

On the flip-side, any failure to close below the low-end of the zone may cause a rally towards the high-end however, the daily resistance level at $6,030 needs to be monitored. See the chart (zoomed in) to know more about the next key resistance the price could encounter in a further bullish scenario.

另一方面，未能收低至低端以下该区域可能导致向高端反弹，但每日阻力水平为6,030美元要监控的ds。请参阅图表（放大）以了解更多关于价格在进一步看涨情况下可能遇到的下一个关键阻力。

CoPper Four-HOUR PRICE CHART (June 28 - JULy 23, 2019)

CoPper四小时价格表（6月28日 - 2019年7月23日）

Looking at the four-hour chart, we notice Copper's descending course after failing twice since Friday in close above the high-end of the aforementioned trading zone. Therefore, a break below $5,943 may send the price towards the July 12 low at $5,912 however, the July 17 low underlined on the chart needs to be watched closely.

看看四小时图表，我们注意到铜价自上周五以来已经两次失败，接近上述交易区域的高端区域。因此，突破5,943美元可能会将价格推向7月12日的低点5,912美元，但是图表中强调的7月17日低点需要密切关注。

In turn, if Copper breaks above $6,051 this could cause a rally towards $6,123 nonetheless, the high-end of the trading zone highlighted on the chart needs to be kept in focus.

反过来，如果铜价突破6,051美元，这可能导致6,123美元反弹，图表中突出显示的交易区高端需要保持关注。

Written By: Mahmoud Alkudsi

撰文：Mahmoud Alkudsi