Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Copper takes a tumble, but are there more losses to come?

Copper prices have suffered their worst day of 2017. IGTV’s Jeremy Naylor looks at the charts and the trading opportunities this may present.

Tuesday’s move in the price of high grade copper has taken it outside the Bollinger band. But with moving average convergence divergence (MACD) pointing lower, and the relative strength index (RSI) only flirting with being oversold, IGTV’s Jeremy Naylor suggests that a little bit of the air needs to come out of the short trade before we see a resumption of the recent drop. Something that would arrest the drop would be support at 28,225, however, that is some distance from current price action at 29,000.

Video poster image


If 28,927 is broken on a daily basis, the 200-day simple moving average (SMA) would offer further support at 28,566, and then there’s a further level of support at 28,225. That was the level of resistance back in February this year.

Jeremy also explains where to place a stop on a short trade, which would provide safety if the price snaps back.

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer