HIGH GRADE COPPER FUTURES (JULY 2019) (HG) 4-HR TIMEFRAME SHORT
Copper prices have just broken out of a support level of 2.8495, with the former resistance at 2.9750. The market has completed the advancing and distribution stages, and has just started the decline stage. I expect prices to tank further, as commodities are in large sell-offs these past weeks. The price is also forming a new downtrend, as it makes lower highs and lower lows. Possible targets include the 2.6875 and 2.6565 areas. May the bears be upon us!
ENTRY: Now
Stop Loss: 2.7810
Target One: 2.875
Target Two: 2.6565
ENTRY: Now
Stop Loss: 2.7810
Target One: 2.875
Target Two: 2.6565
Note
Take profit hit!!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.