XCU/USD (Copper) Long-Term Trend: Bullish
Key Resistance Levels: 4.4600, 4.5955, 4.6000
Key Support Levels: 4.3420, 4.2495, 4.2400
The price on the higher time frame failed to break the 4.3420 USD mark, and a correction count has been posted. We expect a reversal in this move and an upward wave to the 4.4600 USD mark.
XCU/USD (Copper) Medium-Term Trend: Bullish
On the lower time frame, the price is traded inside a bullish flag formation. A lower correction is expected to the 61.80% Fibonacci retracement level which coincides with a strong support around the 4.3420 USD mark. This could lead to a reversal and a move to the upside.
Buy Limit Order @ 4.3460
TP 1 @ 4.4560
TP 2 @ 4.4600
Stop Loss @ 4.3010
Trade Safely 🙂