- Daily chart shows copper with a falling wedge pattern which is a bullish reversal one.
- For the wedge to work well in favor of bulls the support line in second chart must be held.
- Down trend will remain strong as long as price stays below 50 period SMA OF Four hour time frame.
Too much downward momentum in copper at this point. It will be a failed wedge and expect price to slice through the bottom
ReplyDelete@beetlejuice
ReplyDeleteYou're right about the momentum. Price is yet to show any reversal. Chance of failure exist.