Copper is reaching the rising wedge resistance again
Copper is testing the rising wedge resistance 3.060 again. A close above 3.0600 is required for the upside continuation and extension higher. For a complete bearish downside reversal breakout and higher probability short trade entries, we need to see a confirmed break below 2.8700. Copper bounced off 2 and is reaching the long- term upside reversal resistance zone 3.000-3.050. The overall long-term is downtrend but a confirmed break above 3.060 will lead to a complete reversal higher. Rejection is needed for the downside continuation.
Note – We are inclined more to short trade entries with the stop loss above 3.060 if we got a confirmed break above this level we will reverse to long trade entries
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Watch the trend but look for the reversal for a higher risk to reward entries
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