COPPER - DAILY - SUPPORT LEVEL
Copper to fall to a new low for this year?
A Forex trading technical analysis video showing the drop from a triple top/rectangle chart pattern where the measured target of its height has been met and that of its width lies at 3.0200, below this year's low at 3.0425. A weekly close below trend line support at 3.1250 would add to bearish pressure which is already very significant from the Ichimoku cloud system on both the daily and weekly timeframes. Looking ahead a drop to the pivotal area at 2.8000 is a distinct possibility and a huge clear-out as seen in Q4 2008 cannot be ruled out.
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