Copper
As seen prices have pierced its prolong H/S top pattern and according to the H/S measuring rule it might fall till $ 2.11. But for the Scalp traders we assume this might be the best time to garner some profit.
Price have formed the bullish Crab pattern ( Harmonic) and formed an One day reversal bar pattern at 1.618 levels. We can also witnessed the Selling climax at the bottom.
RSI moved in a bearish territory i.e 60-30 levels, and currently took support at 30 levels. It means we can build our short side near 55-60 levels , but till than we advise to follow bottom fishing. For the few sessions we assume prices might halt near 3.11-3.12 levels and post that might bounce till 3.40-3.46 levels.
Price have formed the bullish Crab pattern ( Harmonic) and formed an One day reversal bar pattern at 1.618 levels. We can also witnessed the Selling climax at the bottom.
RSI moved in a bearish territory i.e 60-30 levels, and currently took support at 30 levels. It means we can build our short side near 55-60 levels , but till than we advise to follow bottom fishing. For the few sessions we assume prices might halt near 3.11-3.12 levels and post that might bounce till 3.40-3.46 levels.
Penafian
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