Copper is breaking below the rising trend line again
Copper has been rejected after a false breakout above the long-term falling trend line and is breaking below the 300 again. A confirmed close above the 310 is required for an upside extension. For a complete bearish downside reversal breakout and higher probability short trade entries, we need to see a confirmed break below 290. A break below this level would lead to a deeper correction lower and a test of 280. The overall long-term is a downtrend and we need to see a break above 310 for an upside reversal.
Note – We are more inclined to a short trade entry with the stop loss above 305
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