COPPER (XCU/USD) – Week 3 – Indecision territory.

Copper prices have been lifted to a fresh new 8-year high, sustained by the odds, that an improving economy will further expand consumption along with major US coronavirus relief package passing into law and optimism over the global coronavirus vaccine rollout. At this moment in time, we find ourselves in a big weekly bullish trend which we expect to run its course in the future, but at the same time, we anticipate a pullback that can push the price lower in the short-term. Our advice is to skip this one for this week and focus on other instruments as it might get messy.
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 manually