NEWS: Copper price is rising 1.44% to hit 4.418 as global demand picks up.
Possible Scenarios:
If Copper fails to breach through R1 of 4.4290, our Research Department expects the Natural Gas to undergo a short- term upward correction.
If Copper manages to break below its Reference Price of 4.4170, our Research Department expects the Copper to extend its losses to its S1 of 4.4050.
Support and Resistance Levels:
Copper |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
4.3870 |
4.3960 |
4.4050 |
4.4170 |
4.4290 |
4.4380 |
4.4470 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €93.63 |
(+/-) £80.23 |
*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.06806
***GBP/USD = 1.24638
Calculations for exchange rate used as of Thursday, April 18, 2024, 8:28: AM (GMT)