Sell COPPER

As a basic observation in The Monthly chart of copper Futures (HG1) . Copper reached during the last year it's highest levels since 2011 breaking its all time high . As a result of the high demand from china in 2020 and the lower production from the miners in Chile and Peru .
In the other hand the Chart has shown selling configuration .There's a high probability that the prices might visit the 4.7 level before it starts dropping down and visit some of the lowest levels passing by $3.5 - $3 as first target in the next few month and if the price breaks down this level then the target will be $2.5 , and there is a lot of fundamental reasons .

-Lately the Li Keqiang Index has dropped down as sign of china's Industrial situation . and as known the high correlation between Copper and the Li Keqiang and it lower the demand on copper in 2022 .
-Chile started rising its production rate so this will affect the supply in the market .
-The US federal Bank has been declared that they will rise The Interest rate by the end of March and it will affect all industrial and technological sectors.