Falling towards overlap support?COPPER is falling towards the support level which is an overlap support that aligns with the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 4.1153
Why we like it:
There is an overlap support level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 4.0489
Why we like it:
There is a pullback support level that is slightly above the 161.8% Fibonacci extension.
Take profit: 4.2065
Why we like it:
There is an overlap resistance level that lines up with the 50% Fibonacci retracement.
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