Copper created record highs this month, where it peaked at a high of $5.0395,
breaching the previous all-time high from February 2011 once again.
The previous all-time high is proving to be a strong level of resistance as price
is unable to remain above this level for lengthy periods of time.
There is now a long wick above this month’s candle as the sellers have pushed
price down, but the candle's body remains bullish.
$4.6495 is now a support level and should price decline further, it could hold
price up, giving price enough momentum to make a new all-time high.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime
breaching the previous all-time high from February 2011 once again.
The previous all-time high is proving to be a strong level of resistance as price
is unable to remain above this level for lengthy periods of time.
There is now a long wick above this month’s candle as the sellers have pushed
price down, but the candle's body remains bullish.
$4.6495 is now a support level and should price decline further, it could hold
price up, giving price enough momentum to make a new all-time high.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime
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Join Our Private Community
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.