#COPPER
#COPPER remains in an ascending triangle. Today we printed a bearish continuation candle, closing at $6.58 (-1.21%), as we lose the 50 EMA ($6.64) mid-range within the triangle.
Ascending support and the rising 200 EMA ($6.27) meet around $6.25–6.30, with flat resistance near $7.00.
There's no new interesting setup for the time being until we either bounce off support or break out of this ascending triangle, and a breakout needs a close with conviction.
This weekend we'll review #COPPER across multiple timeframes with our subscribers: the daily chart, the weekly chart that is still under bearish momentum following a bearish pivot from a few weeks ago, and the monthly timeframe, which is also most likely giving us a bearish pivot. If you want our full video technical analysis, join us at and get all the additional benefits.
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