CFDs on CopperShort
COPPER - Is Dead
Updated
News of copper shortages had the herd rushing in yesterday but alas it looks like COPPER has completed a bearish ABC running flat correction that should see another leg down of capitulation.
The A and the C wave have potentially both closed printing a long wicked gravestone doji - very bearish, showing plenty of selling pressure.
The intermediate C reversed at 0.618 retracement and the minor wave just shy of the 1.618 extension.
I have entered s short position at the close that should compliment my FCX LEAP put.
Not advice.
The A and the C wave have potentially both closed printing a long wicked gravestone doji - very bearish, showing plenty of selling pressure.
The intermediate C reversed at 0.618 retracement and the minor wave just shy of the 1.618 extension.
I have entered s short position at the close that should compliment my FCX LEAP put.
Not advice.
Note
The candle was a correction not a top so this is invalidated.Note
Very chaotic price action everywhere and this turned out to be a very fast long wicked shakeout reversal pattern, and so this is now highly probable to be a very significant structure and should be another leg down i think.Note
Down we go. 
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