Copper EMAs Turn Neutral
The below is the daily chart of the copper price. We note that the green 5-day EMA has crossed below the orange 13-day EMA (blue ellipse). This has effectively moved the base metal’s EMAs into a neutral stack. The RSI(9) has oscillated around the 50 level for the month of April (blue rectangle), which is indicative of a neutral momentum. As such, copper is considered to be consolidating sideways until proven otherwise.
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