Xcuusd (Copper)
Copper taking impulse, but turning overCopper price indicates a bearish pressure that is walking straight to my red ellipse, what does it mean? price going to 2.93 - 2.90, where should bring the bullish pressure back.
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Copper Short CallingGiven that copper prices have climbed to an almost all time high as well as the past positive and negative correlations, a long is still profitable. However, a short where you buy and sell until 1st quarter of 2018 has a much better potential for gains. Also looking at the bollinger bands, this is still profitable but not as profitable as other things you could invest in. This is more of an overall conservative strategy to make some returns but not ones that are significant.
Copper looking to rise I have posted a chart on copper few days back with parallel channel but its seems that Copper has broken the channel
Which means one thing ...
The dump last week was a good correction and now we are back on the way up
The confirmation of this trend will be when the 0.5 fib level is broken
I will be looking for it tomorrow
Best of luck
PS: I am running 350 + pips channel with money back gurantee here and telegram. Send me a message if you want to be part of it.
Copper (6/12/17) *BULLS, be patientCopper is racing to reach the swing low region of 2.858.
The region (2.858) is where Bull shall step in and defend,
If you wanna long, wait for a nice low risk entry there.
Now, you shouldn't be hurry to LONG.
Trade Safe,
s0nic
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