COPPER (XCU/USD) – Week 10 – Is the pullback over?
Copper respected our previous analysis and erased 2 weeks of gains reaching the liquidity pool that is highlighted on the chart. From there the price found some support and it looks like it’s gaining some bullish momentum.
Still early days, but we are expecting the price to increase and head towards the resistance level that we highlighted on the chart. Don’t forget that at this point we strongly need a bigger corrective structure to develop, so the bullish trend could be short-lived.
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.
Still early days, but we are expecting the price to increase and head towards the resistance level that we highlighted on the chart. Don’t forget that at this point we strongly need a bigger corrective structure to develop, so the bullish trend could be short-lived.
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.
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