Copper is retesting the broken wedge top
It is testing the 3.1000 broken resistance wedge top. For a downside extension and a higher probability of the short trade entries, we need to see a confirmed break below 3.0200. A confirmed break above 3.2000 is required for a complete upside reversal. The overall medium-term is an uptrend but we need to see a confirmed break above 3.2100 for an upside extension. Break above or below these two key levels would open a direction for a new trend.
Note – We are inclined to short entries but only on a confirmed break below 3.0200
If you want to learn trading analysis and how to get to key trading levels like in this article register for Private Live mentoring with your trading evaluation.