Xcuusd (Copper)
XCUUSD potential bounce!
XCUUSD expected to reverse up to 1st support at 2.12838 where it could potentially react and bounce to its resistance at 1st resistance at 2.23507.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
XCUUSD to climb from upside confirmation, potential bounce!
XCUUSD to climb from its upside confirmation at 2.23828 where it could potentially bounce further to 2.30547.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Copper (XCUUSD) Trading Plan & Potential Drop
hey guys,
pay attention to copper today!
currently, the price has reached a key structure resistance level and we have a potential opportunity for short!
pay attention to a horizontal decision range on 1H and sell in case of a bearish breakout of it (1H candle close below 2.172!
stop will be above the higher high within the channel!
target levels: 2.11 / 2.04
in case of a bullish continuation and candle close above 2.24 setups will be invalid!
please, support the idea with like and comment! thank you!
COPPER OUTLOOK - XCUUSDCopper has been trading in a bearish channel since 2011 right after bouncing off from the ascending resistance of the ultimate bullish channel. The first corrective wave in the blue bearish channel ended last year and price failed to break out to the upside.
A critical price level has been broken and this will potentially expose the copper price to a further downside. I had forecast this short setup last year and I have now updated my chart.
My first and second price target at $2.32/lb and $1.98/lb respectively were successfully achieved last week. If price breaks my 161.8% fib level, I expect price to reach my third target at $1.29/lb.
XCUUSD potential bounce!
XCUUSD expected to reverse up to 1st support at 1.64407 where it could potentially react and bounce to its resistance at 1st resistance at 2.47455.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.