Copper Futures 1M chart

Jul 17, 2021

The first wave of Fibonacci extension that started in March 2020 seems to have peaked. The next level is located far above the sky. It's not a strange position to be down here. Well, looking at the 1-hour chart, there is no upward momentum yet. This is a very large timeframe. So, don't take too much into consideration for the current trading. I'll keep watching and update