Hi Guys 👋
Lets look at the Copper Chart 👀
📌 By analyzing the daily chart of Copper against the US Dollar, we can observe the convergence of price highs, followed by the formation of equal highs, and ultimately the breakdown of the most recent low. This price behavior reflects a Wyckoff distribution structure in the market.
📌Additionally, with the formation of equal highs, a clear weakness can be seen in the RSI indicator, suggesting a continuation of the bearish momentum.
📌It is expected that the price will pull back to the base of the Wyckoff breakdown zone, which aligns precisely with a supply area, and then resume its downward movement.
📌 Finally, the price is likely to reach a valid demand zone, as illustrated, where we may observe a bullish reaction.
⚠️ All published content reflects the analyst’s opinion only and does not constitute any financial or investment advice.
Feel Free to share your thought and comments on this post 😊
Sincerely,
Hossein Poursaei
Lets look at the Copper Chart 👀
📌 By analyzing the daily chart of Copper against the US Dollar, we can observe the convergence of price highs, followed by the formation of equal highs, and ultimately the breakdown of the most recent low. This price behavior reflects a Wyckoff distribution structure in the market.
📌Additionally, with the formation of equal highs, a clear weakness can be seen in the RSI indicator, suggesting a continuation of the bearish momentum.
📌It is expected that the price will pull back to the base of the Wyckoff breakdown zone, which aligns precisely with a supply area, and then resume its downward movement.
📌 Finally, the price is likely to reach a valid demand zone, as illustrated, where we may observe a bullish reaction.
⚠️ All published content reflects the analyst’s opinion only and does not constitute any financial or investment advice.
Feel Free to share your thought and comments on this post 😊
Sincerely,
Hossein Poursaei
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.