Copper

[johnsyn]

March copper closed higher on Friday and the high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 343.51 would
confirm that a short-term low has been posted. If March renews the decline off December's high, the 75% retracement level of October's rally crossing at 320.71 is the next downside target. First resistance is the 20-day moving average crossing at 343.51. Second resistance is December's high crossing at 367.40. First support is December's low crossing at 323.25. Second support is the 75% retracement level of October's rally crossing at 320.71. SEEKING ALPHA