A bearish outlook for copper

Copper formed a multi-month triangle, where the last leg made a throw over of the pattern. The triangle has been formed in the right shoulder of a larger Head & Shoulders (H&S) pattern. Thus, the red metal is in for a significant decline. Copper has broken the lower end of the triangular pattern as well as the neckline of the H&S pattern. After retesting the neckline, it has started the next leg down. The target on the downside will be the equality target, ie $2.58. A reversal can be trailed to $3.275.


Shubhlaxmi Commodity is a Free portal where you are provided all market such as Commodity stocks futures and Currency Like USD To INR and internatinol live market prices and live charts and Free support and resistance level

Post A Comment: