Copper VS Lead Ratio Chart Analysis - Kedia Advisory
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COPPER VS LEAD Ratio Chart Analysis
● Between May-June in 2020 the ratio sharply fell and made low of 2.65 and from there the ratio took a reversal as it breached 50 MA, making 50 MA as support the ratio made the new high of 4.55 level.
● From the past 2 month Ratio turned toward downside after reversing from 4.55 level.Now it's resting at 3.8(38.20% Fibo) level.
● Because of the increase in the price of Copper the ratio may fall continuously in coming days and its chances of touching the 3.6 (50.00% Fibo) level.
● It means as the ratio suggests Lead will outperform as compared to Copper, it will surely help the investors to make a position in LEAD and make good returns as compared to Copper in the coming days.
● Fisher, RSI, & CHOP technical indicators also indicate a bearish view in the ratio which indicates Aluminium should outperform in the near term against Copper.
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