As you know, from my previous Copper idea, I went short. And so far, we have picked up a lot of points from this trade.
If any of you went short with me, well done, we did good. We now need to take heed at the current price level and see if it becomes new support for this price. Current price could be support for the time being. Or, we could see continuation to longer term validation target at 2.05's.
I 100% expect 2.05's to be hit one day, but it may retrace off the support line on the chart first, pullback and then go down to expected level. OR, it could just continue and ignore this level and go to the downside. Even though upside from here doesn't look likely just from looking at price action, it is instrumental to take heed here to protect capital.
Best of luck traders,
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