EmpowerTrader
Short

Copper Testing Final Resistance Level

OANDA:XCUUSD   CFDs on Copper (US$ / lb)
Trade Idea: Bearish Reversal
Copper price has once again bounced back to the final resistance level (the 3rd time). Since mid September, price has been trading in a bearish channel , supported by poorer & poorer data coming out of China. Look for a potential reversal as the market resume pricing in poor economic datas coming from China, trade war dispute & global decline in investments & confidence.

Trade Step-up: Short
Scenario One: Price rejects a break from the final resistance level . Look to profit at 2.6500

Scenario Two: Price reverses and continues its reversal all the way to key support level . Look to profit below 2.5800.
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