Copper is retesting broken 255-260 zone
Copper is retesting the 255-260 zone. A rejection from here is needed for a downside extension. This is leaving an extended fall to 220 level of a downtrend channel opened.
On a daily chart, we can see a test of the important downside breakout 255 level. This is providing an excellent trading opportunity with a good risk to reward short entry. You can place a short trade entry with a stop loss above the 260 level targeting 240 level and even trailing the profit further downside into 220. ARMAT trading system is indicating a potential 200 points of profit.
We have used the combination of the top-down trading analysis to get these key levels explained in the charts.
Happy trading! (click on the chart to enlarge it)
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