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(H3) Doji Candle Continues To Highlight A Potential Top

COPPER TECHS
Metals Technical AnalysisMetals bulletHomepagemarkets-real-timeCommoditiesBullet
  • RES 4: $457.65 - High Feb 2 2022
  • RES 3: $451.00 - 1.764 proj of Jul 15 - Aug 26 - Sep 28 price swing
  • RES 2: $440.00 - Round number resistance
  • RES 1: $435.50 - High Jan 18 and the bull trigger
  • PRICE: $426.70 @ 13:17 GMT Jan 27
  • SUP 1: $416.80/410.80 - Low Jan 19 / 20-day EMA
  • SUP 2: $392.50 - 50-day EMA
  • SUP 3: $370.85/354.70 - Low Jan 4 and key support / Low Nov 28
  • SUP 4: $334.80 - Low Oct 31

Copper futures are consolidating and the uptrend remains intact. However, price action on Jan 18 does suggest potential for a short-term pullback. The price pattern on Jan 18, is a doji shooting star candle - a reversal signal. The trend condition is overbought and a move lower near-term would represent a healthy correction, allowing the overbought condition to unwind. This would open 410.80, the 20-day EMA. Key S/T resistance is 435.50, the Jan 18 high.

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  • RES 4: $457.65 - High Feb 2 2022
  • RES 3: $451.00 - 1.764 proj of Jul 15 - Aug 26 - Sep 28 price swing
  • RES 2: $440.00 - Round number resistance
  • RES 1: $435.50 - High Jan 18 and the bull trigger
  • PRICE: $426.70 @ 13:17 GMT Jan 27
  • SUP 1: $416.80/410.80 - Low Jan 19 / 20-day EMA
  • SUP 2: $392.50 - 50-day EMA
  • SUP 3: $370.85/354.70 - Low Jan 4 and key support / Low Nov 28
  • SUP 4: $334.80 - Low Oct 31

Copper futures are consolidating and the uptrend remains intact. However, price action on Jan 18 does suggest potential for a short-term pullback. The price pattern on Jan 18, is a doji shooting star candle - a reversal signal. The trend condition is overbought and a move lower near-term would represent a healthy correction, allowing the overbought condition to unwind. This would open 410.80, the 20-day EMA. Key S/T resistance is 435.50, the Jan 18 high.