Copper Long

4 дек. 2016 г.

Price has achieved our D1 Fibonaci extension. Price is back at our 0% fib acting as resistance turned support. If we se a break and retest on the counter trend line with bulish price action we could see price make its way back up to our D1 extension and hopfeully completing our D2 -61.8% fib. The weekly candle has closed as a weekly bearish candle we can take charectersitcs that there is high buying pressure within the market. Currently the bulls are dominant within the market. Our MACD is showing strong buying pressure and our EMA are all in line with the bullish momentum. We could see a rejection as price is currently at our weekly 200 EMA. PATIENCE IS KEY WAIT THE RIGHT ENTRY WAIT FOR THE RIGHT CONFLUENCES IF THEY ARENT THERE LEAVE IT AND MOVE ONTO THE NEXT. QUALITY OVER QUANTITY.