MY TAKE ON COPPER MOVEMENT
Updated
It is no rocket science that copper has been plummeting down but the question is 'when can we expect a trend reversal to the bull side?' Well here is my chart on this, the yellow lines represent areas i was looking at for downtrend to complete so i can buy in. Now i have bought in a position at target 2, which is the middle yellow line as i believe we have likely bottomed out here. Now i think i there is a chance it could go further down but with new terrible trading leverage at play and considering it has nearly bottomed out or near enough to it, I feel confident in where i placed a trade to go long without being stopped out if it has yet more downtrend to complete.
BTW ignore some of the tools/indicators on there, only using MACD, Ichimoku cloud and CM_Ultimate_.... (too long a name, but it is an awesome tool honestly, highly recommend).
BTW ignore some of the tools/indicators on there, only using MACD, Ichimoku cloud and CM_Ultimate_.... (too long a name, but it is an awesome tool honestly, highly recommend).
Note
Update, i spied confirmation of bull a short while ago and now fully loaded...
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