COPPER- All 4 targets reached/ Time to go Short?
Since May last year Copper had been selected as one of our main investments for the year 2020/2021 ?(check the previous idea here).
We had placed 4 take profit levels early in January to be taken and they were taken successfully , just a bit faster than we thought!
At this stage, Copper should leave some profits behind so we are entering a short term short position until our charts demand that we buy in again.
This, despite today's news that Shanghai copper rose on Monday on top metals consumer China's move to boost liquidity, while a steady dollar ahead of U.S. inflation data kept London prices under pressure.
In anticipation of Chinese data tomorrow morning we feel this is a good entry point at resistance.
the FXPROFESSOR
We had placed 4 take profit levels early in January to be taken and they were taken successfully , just a bit faster than we thought!
At this stage, Copper should leave some profits behind so we are entering a short term short position until our charts demand that we buy in again.
This, despite today's news that Shanghai copper rose on Monday on top metals consumer China's move to boost liquidity, while a steady dollar ahead of U.S. inflation data kept London prices under pressure.
In anticipation of Chinese data tomorrow morning we feel this is a good entry point at resistance.
the FXPROFESSOR
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