COPPER at Key Resistance: Will Sellers Push Toward 4.5230?
COPPER has reached a significant resistance level, marked by prior price rejections and strong selling pressure. This area has historically acted as strong supply, suggesting the potential for a bearish reversal if sellers regain control.If the price confirms a rejection within this supply zone, I anticipate a move downward toward the 4.5230 level. This setup suggests the possibility of a retracement after the recent upward movement.
Traders should look for bearish confirmation signals, such as bearish engulfing candles or strong rejection wicks, before entering short positions.
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FREE Trading Signals: t.me/danielmtrading
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.