$XCUUSD might go lower before breaking the pennant

Copper might go lower due because it looks like its forming pennant. However, the pennant could be penetrated from the top and go further up. I have bearish sentiment on this metal since it is one of the indicators global economy is going down and in the last year copper lost around 4% of its value.

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$XCU broke the pennant and now is heading 0.5 level where looks like is bouncing back. However, downtrend confirmation is still missing. Stay tunned for another update.