Technician
Short

Copper: Decision Time!

COMEX:HG1!   COPPER FUTURES
1900 10 25
Copper             has been pushing lower to the support of this monthly descending triangle, a breakout confirmation below that support would probably confirm a plunge. The projected target for the pattern is near the 2.00 mark also near the main rising trend line.

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Excellent setup, have been eyeing this as well.
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Technician TOP SPYderCrusher
2 years ago
Thanks mate
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cxn1991
2 years ago
Thanks Technician, where would you place your stops? Above previous Structure at 3.30 - 3.50 ? Thanks once again!
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timwest PRO
2 years ago
And maybe it will follow crude oil too, as you had suggested in other charts...
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LEONES PRO
2 years ago
yes agree, well defined triangle
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alex.a
2 years ago
Wow ~ Then which country produce the copper the most? That would be my homework to find out ~
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alex.a alex.a
2 years ago
http://en.wikipedia.org/wiki/List_of_countries_by_copper_production#mediaviewer/File:Top_5_Copper_Producers.png ---- Chile=> China => Peru => US => Australia ~ (falling AUD expected??? again)
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Bluetradingfx
2 years ago
Hi technitian, at about now, should we expect a retrace to 3.0 levels or keep the short trend?? is there any mid target?? i am expecting to support at 2.6 levels, i see a gap there, retrace to 3.0 levels and keep back down ... what you expect???
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Technician TOP Bluetradingfx
2 years ago
Hello mate, I dont try to forecast certain directions, what i do in this case, as we broke the support, i will wait for another bearish signal on the daily, such as a pin bar, or maybe a double top on the four-hour chart.. I use my own confirmation tools . First support at 2.72.
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This is not a trade per se, its just information or guidelines that might help trading.
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