COPPER has had a sweet run higher after returning to the 2.94 support level. Currently we are trading at the 3.30 level and I see this as another potential sell off so here's the analysis so you're all prepared to capitalize on another opportunity.
Ideal Scenario: We post a higher day Monday and just scream on higher to 3.45. Sick!
Medium Risk Scenario: We retrace to the 3.25 or 3.20 levels and start a new rally from there.
New longs scenario: We retrace deeper to 3.10 and get the opportunity to buy in again (in case you missed getting in already).
Lets keep and eye on COPPER in the coming days and see what happens. Whatever happens, even if we reverse entirely, I'm overall bullish on this metal!
Note: All ideas expressed here are presented solely for learning and educational purposes only. Any gains or losses assumed by trading ideas presented by The Bad Panda are done so at your own risk.
Ideal Scenario: We post a higher day Monday and just scream on higher to 3.45. Sick!
Medium Risk Scenario: We retrace to the 3.25 or 3.20 levels and start a new rally from there.
New longs scenario: We retrace deeper to 3.10 and get the opportunity to buy in again (in case you missed getting in already).
Lets keep and eye on COPPER in the coming days and see what happens. Whatever happens, even if we reverse entirely, I'm overall bullish on this metal!
Note: All ideas expressed here are presented solely for learning and educational purposes only. Any gains or losses assumed by trading ideas presented by The Bad Panda are done so at your own risk.
