The copper market edged to new highs, with prices pushing above $4 a pound, its highest level since September 2011. However, we recommend caution as the rally looks a little unstable and overbought and a strong “bearish” impulse could be waiting around the corner. Yes, we are in a strong weekly uptrend, but we need at some point to start a bigger degree corrective pattern.
For this week, we expect the price to pullback towards the trendline, having a big chance to make a new higher-high.
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.
For this week, we expect the price to pullback towards the trendline, having a big chance to make a new higher-high.
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 chiuso: obiettivo raggiunto
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.