Copper has pulled back from Fibonacci resistance at 13445.
Candlestick Chart & Technical Analysis
•Short term Trend: Bullish
•Medium term Trend: Neutral – Bullish
•Yesterday’s candle:
“A red candle on hitting this area of resistance last Thursday but no follow through from the bears on Friday so let’s have another go“
Not yet, then! Gains to 13373 yesterday early on found sellers and we then saw weakness back to 13193, then 13172.50 overnight. Our Skewbar remains a mostly green affair though.
•Fibonacci says: 12780 and 13445 are the next upside targets. – 13445 hit and we’ve seen some selling.
•Moving Averages/Indicators/other: MACDMoving Average Convergence Divergence - a technical analysis... is bullish but turning.
•Summary/Thoughts: Found some sellers at Fibonacci resistance.
•Favoured Trade(s) for today: Buy dips/rips.
•Bigger Picture thoughts and targets: 13445-13527 is a big area of resistance. – Weighing currently.
Market Profile
•Profile setup/levels: Yesterday’s VPOCVolume Point of Control – The price where the most volume ... More is up at 13405. – Still naked.
•20-day CHVNComposite High Volume Node – “Composite” profiles; tho... More: 13250
•Naked VPOCsVolume Point of Control – The price where the most volume ... More below: 12620, 12430, 11983, 11781
•Naked VPOCsVolume Point of Control – The price where the most volume ... More above: 13405, 13500, 13600
•SPVsSingle Print Vacuum – Similar to an LVN/CLVN. A price or p... More in play below: 12951, 12930, 12828, 12800, 12744.50, 12092.50, 12083, 11078.50, 11045, 11011, 10736.
•SPVsSingle Print Vacuum – Similar to an LVN/CLVN. A price or p... More in play above: None.
Support & Resistance Levels (Futurestechs’ SkewBar)
Key
Purple = Marabuzo lines
Green = Fibonacci level
Blue = Market Profile level
Orange = Trendlines/Chart Pattern levels
Clive Lambert FSTA – FuturesTechs
A 10-time Technical Analysis award winner, Clive Lambert FSTA has spent over 25 years advising trading desks on the Metals markets. Covering LME Base Metals & Precious Metals (Gold, Silver, Platinum & Palladium), his reports are considered the industry benchmark, blending Market Profile and Candlestick Analysis to provide institutional-grade clarity for professional hedgers and traders.
Disclaimer:
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