InvestingScope

Copper: Sell opportunity on 1D.

COMEX:HG1!   Copper Futures
Copper has been trading sideways on 1W ( RSI = 50.950) since late July within a strong 2.5425 - 2.8715 consolidation zone. The price was rejected last Friday on the 2.8390 - 2.8715 Sell Zone and since 1D turned already to neutral CCi = 33.6567, Highs/Lows = 0.00000, a strong sell opportunity is presented. We are taking this short signal with TP = 2.6665.







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I am out for my part. Just wanted to short the resistance get a little retrace at least to 0.382 fib. It is consolidating so maybe it keeps going back and forth these areas.
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@MrRenev, 4H is showing a Channel Down though, so technically speaking it remains a strong sell option. It can take however as long as 2 weeks to reach its target.
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