COPPER - DAILY - MEASURED TARGET
COPPER reaches its 161% measured target.
A Forex trading technical analysis video showing today's drop to the 161% measured target taken from the height of the triple top. This has probably been caused by Friday's weekly close below a trend line that has caught the lower edge of the massive trading range since the beginning of 2010. It also hints that we are on our way down towards the bottom of a trend channel that started in Q1 2011 which comes in at 2.9580; allow for an possible extension below here, as per Q2 2012, if we move slowly towards there. However, we warn that the 2.9000 area is a sort of watershed which saw prices implode to 1.6000 in October 2008.
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