No worries – we didn’t confuse our metals! However, like a lead weight, copper should continue to sink further, heading for the green zone between $3.08 and $2.59 in the south. Already the price has broken free from the recent sidewards movement and has developed a new low, showing more and more downwards momentum. Once copper has arrived in the green zone, it...
10th May daily key reversal bar dictating further weakness in copper. 12th & 18th May also showing weakness ahead. price forming distribution phase to short copper. 4.7550-7860 supply zone for short target 4.5220.
25th Daily copper bar key reversal bar made a new high closed off the low. 26th daily bar widespread down bar closed off the low. 4.1380 first demand zone for short, second demand zone 4.4200. 3.7620 might be first target on downside on short position.
