COPPER - Week 53 - Medium term consolidation periodCopper lost some of its gains at the beginning of last week as the price went down and bounced off the trendline. Taking into consideration that we are in a strong bullish trend we expect the market to consolidate at any point in order to make more room for upside. As per our previous analysis, a short-term bearish sentiment is on the radar. We can see the Copper breaking the top again in order to create a “stop hunt” area, but we expect more downside to come in the near future. Don’t jump in any trade if you don’t have a clear setup.
Trade safe & a Happy New Year!
Best regards,
Financial Flagship
Disclaimer: The analysis provided is just informal and it should not be used as financial advice. Remember that you need a plan before you start trading; so take this as your guide that will ultimately help you understand the market and easily predict your next move.
