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Forex Education Video for COPPER showing a SUPPORT LEVEL posted on 20-06-2013


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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.

See More Forex Education Videos in our Alerts Archive

Nicole Elliott

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A Forex Trading technical analysis video showing this month's collapse in the value of copper futures in the US, partly in sympathy with crumbling crude oil and commodities generally. Already oversold but with so much bearish momentum it is likely to continue to drift towards Fibonacci 61% retracement support and possibly the very long term trend line since 2001. See More Forex Education Videos in our Alerts Archive…
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Copper looking for 2.926 - 2.891 area

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Copper outlook remains bearish below 3.116

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Copper remains bearish on rallies against 3.113 high

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