Strategy for trading Copper for July 2021
1. Copper is in Downtrend on Daily Chart but have formed reversal pattern with bullish hammer on 21 June 21 also RSI showing strength.
2. Strong Resistance zone between 733 to 740. This area will decide further direction for trade either on Long side or short side.
3. Price is respecting channel as shown, if it touches zone 733-740 and gives any bearish indication on Day chart we can go short
4. If Price breaks channel on up side +Price above 740 sustaining with bullish indication (Day candle) then enter for long.
Exact price for entry / exit and SL will be updated as we get confirmation on either long / short side
1. Copper is in Downtrend on Daily Chart but have formed reversal pattern with bullish hammer on 21 June 21 also RSI showing strength.
2. Strong Resistance zone between 733 to 740. This area will decide further direction for trade either on Long side or short side.
3. Price is respecting channel as shown, if it touches zone 733-740 and gives any bearish indication on Day chart we can go short
4. If Price breaks channel on up side +Price above 740 sustaining with bullish indication (Day candle) then enter for long.
Exact price for entry / exit and SL will be updated as we get confirmation on either long / short side