#COPPER

Following this morning’s post on copper, where we hinted about the intraday chart showing a downtrend with lower lows, the outlook proved accurate. 

The upper wick showed earlier on today’s daily candle signaled hesitation and a lack of bullish momentum, on the smaller timeframe, reinforced bearish pressure. 

The day ended with a shooting star candle—not at the peak, but still indicative of selling pressure as bulls failed to hold the follow-through. 

This pattern suggests that bears remain in control in the short term, following the engulfing candle from last Friday, as bulls continue to struggle to reclaim momentum. 

Until the bulls can decisively clear the descending channel, the short-term outlook favors further downside for copper. 

$ERO $FCX $SCCO $BHP $RIO $TECK $GLNCY $TGB $HBM $CPER $COPX $VALE $NEM $XME $AA $CLF $MT $ANTO $LUN $IVN $TRQ $KAT
#COPPER