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
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