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COPPER - Week 53 - Medium term consolidation period

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Copper lost some of its gains at the beginning of last week as the price went down and bounced off the trendline. Taking into consideration that we are in a strong bullish trend we expect the market to consolidate at any point in order to make more room for upside. As per our previous analysis, a short-term bearish sentiment is on the radar. We can see the Copper breaking the top again in order to create a “stop hunt” area, but we expect more downside to come in the near future. Don’t jump in any trade if you don’t have a clear setup.
Trade safe & a Happy New Year!

Best regards,
Financial Flagship

Disclaimer: The analysis provided is just informal and it should not be used as financial advice. Remember that you need a plan before you start trading; so take this as your guide that will ultimately help you understand the market and easily predict your next move.
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