Copper EMAs Developing Angle And Separation
The below is the daily chart of the copper price. The base metal’s EMAs are in a bullish stack with the green 5-day EMA above the orange 13-day EMA, and the orange 13-day EMA above the black 34-day EMA. The EMAs are starting to develop angle and separation (red rectangle) and the RSI is pulling up and away from 50 (blue rectangle). These may imply that the underlying bullish momentum is gaining strength. We continue to monitor.
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