We told you FIRST: +16% YESTERDAY, this AI-picked medtech is now +92% since picked
Copper
First off...the bullet point above was absolutely right last ime...this is a very, very Bearish market. Secondly, the Bearish Bow Tie in early Jul I'd highlighted had as I've often menioned, a kick in between the 24th - 31st of July.
For the first part of Jul we had an entirely appropriate fall with two excellent Key Reversals Down as the market fell away. Then...we had one KR Down too many on the 19th and we pulled back up which ran just in time for...you've guessed it...the 24th - 31st of Jul. Yet with all this, I'd draw your attention to two things. Firstly, in the move up we had not managed to reach the first real major resistance, the 50% Fib of the May - Dec 2017 move at 6404. We tried once...then again but the second attempt was even lower as it was a failed Bullish Engulfing Pattern.
We've since started to move down. This leads me to what may happen. Is this whole mid - late Jul action a possible Bearish Halfway Hesitation/Bear Flag Pattern? It may just be a Double Bottom but it could be something else and if it is then it would ie in with the Bearish Bow Tie...I might just have missed it by a few days. If we do start falling then an initial suggested Target for such a move...should it happen...could be in the 5050 area...a really big ask! You have plenty of support in the way..just look at the Daily Chart above for support lines. However, to really counter this you'd need to destroy the 6404 level mentioned above and soon. This is remains a Bearish market so the bullet point above stays fully Bearish.
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