mjdbx

COPPER - No big move expected, but downside risks remain

Short
FX:COPPER   CFDs on Copper
0
Copper is currently doing little, trading near 2.310. Although there is one ST support in and around 2.3, the odds of a dip to 2.25-2.27 remain decent, and a stronger correction to nearer 2.23-2.24 would be of little surprise. With 2.38-2.40 looking like a hefty barrier near term, and knee-jerk higher today should offer a good shorting opportunity, albeit quite possible 2.32 holds firm for now, resulting in either a late day fall or a tumble - or gap down early on Monday.
Disclaimer

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.