Copper is approaching resistance, potential drop!
Price is approaching our first resistance area at 3.30670, which is in line with the 161.8% Fibonacci retracement level and 61.8% Fibonacci extension level, where we could see a fall below this level towards our first support at 3.23103. The Stochastic indicator is also testing the resistance level at 67.44, indicating that a bearish reversal may be happening soon.
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Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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