Technical Talk: COMEX Copper Extends Lower Top, Lower Bottom Formation

COMEX Copper futures have been witnessing a lower top lower bottoms formation on daily charts for the last few sessions. The metal edged up after testing near three and half month low in last week and around two week highs yet again pulled it back heavily in last session. On the daily charts, 20 day EMA seems to be capping the upside for the metal though overall action remains choppy. A clear break above $ 3.05 could take the counter towards its 100 day EMA, currently placed at $ 3.09 levels.