COPPER.USD.25.CFD trade ideas
Copper & RSIIt is fascinating to see more than one RSI divergences occuring nearby. No 1 is a hidden bearish divergence which made the price to fall. No 2 is also hidden bearish divergence which is trying to pull back the price down. No 3 is a hidden bullish divergence which will take control of the price. I expect the price to move down and after taking support it will bounce upside. I have marked the price action in blue arrow.
Trading at channel support.Trading at channel support. Weak below 2.477, resistance would be 2.495, supports will be 2.459, 2.443, 2.433, 2.421.
Copper Road Map!!Copper is a buying opportunity upon 50 to 61.8% fib retracement levels around 2.085 levels with stoploss just below 2.06 for targets of 2.15 / 2.20. This could turn out to be a correction or the start of a new rally.. Price action would give more details.
Happy Trading!!
