COPPER (XCU/USD) – Week 11 – Will the resistance hold?
Copper moved slow last week and at the moment is in a middle of a consolidation pattern.
In the coming days, we expect the price to continue its lazy movement towards the resistance area highlighted on the chart.
In our opinion, the chances for a new drop will increase from that point, which may push the price around the liquidity pool located around the 3.80 area.
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.
In the coming days, we expect the price to continue its lazy movement towards the resistance area highlighted on the chart.
In our opinion, the chances for a new drop will increase from that point, which may push the price around the liquidity pool located around the 3.80 area.
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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