Bullish signs for COPPER

Jan 27

Based on my analysis, the price of copper has successfully breached a crucial resistance level, signaling a potential trend reversal. The price has made 4 attempts to break through the resistance line before finally pushing through, followed by a retracement and a bounce off the newfound support. Interestingly, a huge spike in trading volume coincided with the same trading day of this bounce.

To further support my idea of a reversal, a Golden Cross has formed, where the 50-day moving average has crossed above the 200-day moving average. This widely recognized bullish indicator suggests a positive shift in market sentiment.

Thank you for viewing my idea.