COPPER (XCU/USD) – Week 9 – Anticipating a bearish pullback.
The copper market edged to new highs at the beginning of last week, with the price almost reaching $4.40 level before starting an aggressive bearish impulse.
It seems that the consolidation that we were talking about in our previous analysis started, as we expect more bearish momentum for this week. If we break the trendline and consolidate underneath, there is a big chance that we will hit the liquidity pool area highlighted on our chart.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
It seems that the consolidation that we were talking about in our previous analysis started, as we expect more bearish momentum for this week. If we break the trendline and consolidate underneath, there is a big chance that we will hit the liquidity pool area highlighted on our chart.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed: target reached
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