COPPER (1D) Technical Analysis
Trend Overview:
Copper is in a strong uptrend, testing a key resistance level. A breakout or rejection here will determine the next move.
Key Levels:
Resistance: 5.393 – A breakout above this level could send price higher.
Support: 5.098 – If broken, price may drop to 4.832.
Market Structure:
Bullish scenario: Rejection/hold of 5.098 & we might see price back to 5.3967 → Break & Retest → Target higher levels.
️ Bearish scenario: Break of 5.098 → Drop to 4.832 → Further decline if broken.
Trade Idea:
Bullish above 5.09840 & 5.393, targeting new highs.
Bearish below 5.09840.
Risk Management: Wait for confirmation of breakout or rejection before entering trades.