Copper has been obeying the triangle structure for some time and has just shown a rejection of the upper trendline indicating a nice move south. Stops above the trend line and targets for mid way or to the lower part of the triangle
Comment:
We have a break, but looking at the RSI on a lower timeframe I expect a pull back still. This setup still remains if the 50% Fib is not broken otherwise we can assume a trend change and longs are in place.
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We have a break, but looking at the RSI on a lower timeframe I expect a pull back still. This setup still remains if the 50% Fib is not broken otherwise we can assume a trend change and longs are in place.