Hello traders,
The significant drop in copper prices since May 2024 can be attributed to the overall correction in global commodity prices and the influence of macroeconomic factors.
Copper prices, which have historically been a crucial indicator of the global commodity market, have seen a substantial downward trend since May.
Check on the weekly right chart, it could make a new low down to FIBO 618 position where is also a support structure.
On 4h chart, we could wait for a new sideways price action before new entry to confirm selling signal, down to test target zone around 4.2471 .
GOOD LUCK!
LESS IS MORE!
The significant drop in copper prices since May 2024 can be attributed to the overall correction in global commodity prices and the influence of macroeconomic factors.
Copper prices, which have historically been a crucial indicator of the global commodity market, have seen a substantial downward trend since May.
Check on the weekly right chart, it could make a new low down to FIBO 618 position where is also a support structure.
On 4h chart, we could wait for a new sideways price action before new entry to confirm selling signal, down to test target zone around 4.2471 .
GOOD LUCK!
LESS IS MORE!
Operación activa
Join Free Telegram Group to get MORE trading skills: t.me/FuntraderVera
Contact:
Tele: @VeraFuntrader
Wechat: ZIYUVERA
Contact:
Tele: @VeraFuntrader
Wechat: ZIYUVERA
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Join Free Telegram Group to get MORE trading skills: t.me/FuntraderVera
Contact:
Tele: @VeraFuntrader
Wechat: ZIYUVERA
Contact:
Tele: @VeraFuntrader
Wechat: ZIYUVERA
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.