Copper is facing bearish pressure from our first resistance Price is facing bearish pressure from our first resistance and descending trend line, where we could see a further drop below this level. A break below our downside confirmation level at 2.82402 could provide the bearish acceleration to our first support target. RSI is facing bearish pressure as well.
COPPER trade ideas
Copper is facing bearish pressurePrice is facing bearish pressure from our first resistance and descending trend line, where we could see a further drop below this level. A break below our downside confirmation level at 2.77082 could provide the bearish acceleration to our first support target. RSI is facing bearish pressure as well.
The Dropoff ?Friday's second last candle is the longest 4Hr candle since March, impressive. At this rate it could just go through the diagonal trendline and down to support at 2500. That would be a 50% retracement from the March bottom, and the same length as the January move.
Will be interesting to see how it goes on Monday's Asian session especially.
Just observations.
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XCUUSD to reverse from downside confirmation, potential drop!
XCUUSD to reverse from its downside confirmation at 2.82960 where it could potentially drop further to 2.70502.
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