Blake Morrow’s Chart of The Day – Apr 29th 2021

COPPER

Copper has staged a nice rally out of the triangle consolidation over the last two weeks, however the daily RSI is divergent and the metal is stalling at the 127% Fibonacci extension. We did make a new high today and closed below the highs from earlier this week which could suggest a near term top. Dips back to the 4.37 level should be well supported by the bulls.