E-mini Copper Futures growing with HUGE momentum
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Hello Traders!
The price of E-mini Copper Futures has been recovering with incredible momentum in the last few months. There are some bearish signals though, as the RSI is indicating overbought conditions, and the 50 SMA and the 100 SMA have recently crossed under the 200 SMA . A more cautious trader would probably wait and see if the next weekly candle breaks through the 2.976 support/resistance or bounces off, but it seems rather unlikely for the price to lose this much momentum this quickly. The MACD looks extremely optimistic as well, but it can always turn on you. My bet is to go for a long now or in a week, but be very cautious of the MACD or the price leveling off or falling back down!
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
The price of E-mini Copper Futures has been recovering with incredible momentum in the last few months. There are some bearish signals though, as the RSI is indicating overbought conditions, and the 50 SMA and the 100 SMA have recently crossed under the 200 SMA . A more cautious trader would probably wait and see if the next weekly candle breaks through the 2.976 support/resistance or bounces off, but it seems rather unlikely for the price to lose this much momentum this quickly. The MACD looks extremely optimistic as well, but it can always turn on you. My bet is to go for a long now or in a week, but be very cautious of the MACD or the price leveling off or falling back down!
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
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