Price made a nice thrust down to test the demand area. I was kind of hoping for a break below or a NSL but didn't get it so I think the trend is still bullish. I'm looking for a counter trend , short term, bounce at the supply zone I have highlighted
Long term trend is higher. The 4 hour trend was bearish but broke a trendline so the long term and short term are now in sync (bullish). Looking for a retracement to the demand zone that broke the trendline and a retest of the highs. That daily Supply area has been tested multiple times and with each test produced a weaker retracement.
Previously Teck gapped down from here with follow through and now has returned. I'm looking for a short term retracement at this supply level. Copper is currently in an up trend and hit a major supply area.
Price is in between the Daily Supply and Demand curve so I'm focused on following the trend towards the daily demand. 4 Hour trend is Down. I'm looking at a Supply area backed by resistance as a continuation play. R:R is good
The daily and 4 hour trend is down but is approaching a Fresh Demand Zone. The overall move away from this area was a battle that form a large channel (daily) which means that there was both large participation from the buyers and sellers. This area was that starting point.
The approach on the 4hour kind of sucks. I will be waiting for the trendline to break so...
Even though price is high on the curve between Supply and Demand. I believe the current Supply Zone has been cleared. The 4 hr Trend is up so I'm looking for a PB to a Demand area for a continuation higher. Target is a conservative retest of the highs.
Price is currently in a daily supply zone and break the trendline. Waiting for the pullback to the supply that break it. I would of liked a the demand zone below to have been broken but I still think this is viable.