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Coppershort

Copper is approaching resistance, potential drop!We are seeing a medium-probability bearish scenario as price has reversed from our first resistance area at 3.28810, where we could potentially see a fall below this level towards our first support at 3.21852. The Stochastic indicator shows a bearish divergence, which also indicates a bearish reversal. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDShort
by Tickmill
Copper reversed off resistance, potential for further dropPrice is facing bearish pressure from our first resistance in line with our 38.2% fibonacci retracement and horizontal swing high resistance, where we could see a further drop to our first support target. Ichimoku cloud is showing signs of bearish pressure as well, in line with our bearish bias. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
OANDA:XCUUSDShort
by Tickmill
Copper a break below support could trigger a further dropPrice is facing bearish pressure from our first resistance in line with our 23.6% fibonacci retracement descending trend line and horizontal pullback resistance where a break below our downside confirmation level could trigger a further drop below this level. Ichimoku cloud is showing signs of bearish pressure as well, in line with our bearish bias. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
OANDA:XCUUSDShort
by Tickmill
Gold is facing bearish pressure Price is facing bearish pressure from our first resistance, in line with our horizontal overlap resistance, 61.8% fibonacci retracement and 78.6% fibonacci extension, where we could see a further reversal below this level. A break below our downside confirmation level could see a further drop to our first support target. Stochastic is facing bearish pressure from our resistance as well. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
FX_IDC:XAUUSDShort
by Tickmill