Potential Copper Futures Retracement: 830 in Sight
Copper futures surged to 864, but signs of exhaustion hint at a possible pullback.
Key points:
Trend: Bullish momentum is strong but showing signs of fatigue.
Support/Resistance: 830 is solid support; 864, a stubborn resistance.
Indicators: RSI suggests overbought conditions; watch moving averages.
Volume: Declining volume hints at weakening bullish sentiment.
Chart Patterns: Look for signals like double tops for confirmation.
Conclusion: Stay cautious; 830 pivotal. Manage risk wisely.
(Note: This is not financial advice. Always do thorough research or consult a financial advisor before trading.)
Key points:
Trend: Bullish momentum is strong but showing signs of fatigue.
Support/Resistance: 830 is solid support; 864, a stubborn resistance.
Indicators: RSI suggests overbought conditions; watch moving averages.
Volume: Declining volume hints at weakening bullish sentiment.
Chart Patterns: Look for signals like double tops for confirmation.
Conclusion: Stay cautious; 830 pivotal. Manage risk wisely.
(Note: This is not financial advice. Always do thorough research or consult a financial advisor before trading.)