It is no rocket science that copper has been plummeting down but the question is 'when can we expect a trend reversal to the bull side?' Well here is my chart on this, the yellow lines represent areas i was looking at for downtrend to complete so i can buy in. Now i have bought in a position at target 2, which is the middle yellow line as i believe we have likely bottomed out here. Now i think i there is a chance it could go further down but with new terrible trading leverage at play and considering it has nearly bottomed out or near enough to it, I feel confident in where i placed a trade to go long without being stopped out if it has yet more downtrend to complete.
BTW ignore some of the tools/indicators on there, only using MACD, Ichimoku cloud and CM_Ultimate_.... (too long a name, but it is an awesome tool honestly, highly recommend).
BTW ignore some of the tools/indicators on there, only using MACD, Ichimoku cloud and CM_Ultimate_.... (too long a name, but it is an awesome tool honestly, highly recommend).
Note
Update, i spied confirmation of bull a short while ago and now fully loaded...
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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.