Copper consolidating at key level pending rebound!
Hello everyone. Copper has dropped to the key level with a big red candle yesterday! Now, the small candle indicate temporary balance between buyers and sellers.
What' next? If you look at the daily chart, this is a nice level to buy with flip zone structure.
Down below, 4.1340 is another fantastic buying level confluence with long-term MA.
Fundamentally, economy is still in the process of recovery, the pent-up demand will require more copper as it is widely used in our everyday life. In my opinion, the cycle is not over yet.
ETF would be a good option for investors to join in. CPER is the United States Copper Index Fund for your reference.
CPER
What' next? If you look at the daily chart, this is a nice level to buy with flip zone structure.
Down below, 4.1340 is another fantastic buying level confluence with long-term MA.
Fundamentally, economy is still in the process of recovery, the pent-up demand will require more copper as it is widely used in our everyday life. In my opinion, the cycle is not over yet.
ETF would be a good option for investors to join in. CPER is the United States Copper Index Fund for your reference.
CPER
Comment:
alright. On the hourly chart, price formed a lower low pattern. It seems to retest the below level. I still recommend buy the dip. The cycle is not over yet.
Comment:
Copper rebounded from the key level, though it's the second defense level I marked originally.
plan your trade and trade your plan