CFD na MiedźShort
0506 COPPER could down to new low soon
Zaktualizowano
Hello traders,
The significant drop in copper prices since May 2024 can be attributed to the overall correction in global commodity prices and the influence of macroeconomic factors.
Copper prices, which have historically been a crucial indicator of the global commodity market, have seen a substantial downward trend since May.
Check on the weekly right chart, it could make a new low down to FIBO 618 position where is also a support structure.
On 4h chart, we could wait for a new sideways price action before new entry to confirm selling signal, down to test target zone around 4.2471 .
GOOD LUCK!
LESS IS MORE!
The significant drop in copper prices since May 2024 can be attributed to the overall correction in global commodity prices and the influence of macroeconomic factors.
Copper prices, which have historically been a crucial indicator of the global commodity market, have seen a substantial downward trend since May.
Check on the weekly right chart, it could make a new low down to FIBO 618 position where is also a support structure.
On 4h chart, we could wait for a new sideways price action before new entry to confirm selling signal, down to test target zone around 4.2471 .
GOOD LUCK!
LESS IS MORE!
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