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.
This is not a trade per se, its just information or guidelines that might help trading.
Bluetradingfx
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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???
Technician
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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.
alex.a
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Wow ~ Then which country produce the copper the most? That would be my homework to find out ~