Not much to add to Last Weeks Analysis, except that i have also added Open Interest to the chart. You can well see that Open Interest is at Record High for Last 7 Years. In fact it is at all time record high for last 25 Years. So be Careful. With Bearish COT Commercials and record high OI, My Bearish call has a solid backing and reasoning
With Limited possible upside, distribution may soon begin. Be Careful with LONG entries.
Copper is a buying opportunity upon 50 to 61.8% fib retracement levels around 2.085 levels with stoploss just below 2.06 for targets of 2.15 / 2.20. This could turn out to be a correction or the start of a new rally.. Price action would give more details. Happy Trading!!
As per Daily chart, the price action is consolidating in a symmetrical triangle. Showcasing Lower Highs and Higher Lows. Enter at Breakout to gain best out of it.