Chart Analysis November 1th: Double Bottom at Copper, Wedge and Pullback

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Double Bottom at Copper

A very accurate chart pattern has just appeared at the Copper chart: the Double Bottom.

The Double Bottom is a strong reversal chart pattern that is especially powerful when it appears at the a local bottom of the commodity, and in this case it appears after a long downtrend which enforces the signal.

Price has also broken the neckline and know is performing a pullback to the neckline. If price will make a bullish candlestick pattern on this neckline we will enter a long trade.

The profit target of this chart pattern is calculated using the measure rule, which is 445 points!

Wedge Pattern

A Wedge chart patttern appeared at the Heidleberg Cement chart.

The Wedge is a reversal pattern that in this case indicates that price will break downwards and start a bearish trend.

If price will hit the resistance level of $35.00 and create a bearish reversal candlestick formation we will enter a short trade.

Nintendo Support Level

The Nintendo stock is in a strong downtrend for a long-term, and we can join this downtrend in high-probability locations.

We will enter a short trade in case price breaks the support level of 10300, and in case it pulls back to this level after the breakout.

Good luck to all!


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