Copper formed a triangle in the second leg of the pullback. With the triangle breakout it formed a third leg on the upside, which achieved its equality target ($3.9). The base metal has also reached the weekly upper Bollinger Band as well as the 61.8% retracement mark ($3.95). Hence unless the key Fibonacci level is crossed on a closing basis, there is a high probability that the bears can start pushing the red metal down. The target on the downside would be the swing low of $3.38.

Today`s Free Power Level & Auto Buy Sell Chart

(Disclaimer: The above chart shown is for study purpose only and not for trading decision)

Currency & Comex Jobbing Range

Contact Form


Email *

Message *

Powered by Blogger.