Cu CMP 3.26 Target 3.80 Stop 3.05 Weekly chart 30/200 crossover Reverse head and shoulder and price past neckline resistance. Series of HHs and HLs confirms price in the process of a promising uptrend.
Short Copper below 3.11 T1: 3.08 T2: 3.025 SL: 3.13
Short XCUUSD between 3.106 and 3.117 T1: 3.080 T2: 3.037 T3: 3.000 SL: 3.142
Buy Copper (XCUUSD) above 2.9384 T1: 3.015 T2: 3.050 T3: 3.085 SL:
Buy on broadening wedge breakout above 2.963 T1: 2.975 T2: 2.830 T3: 2.994 SL: 2.955
Buy copper on bounce above 3.015 Please keep watching this space for more updates on target and SL once trade gets activated
Bearish Divergence on CU daily Chart
Copper is a crucial stage at the moment and we can observe a channel and a symmetric triangle. PS: Use this chart as a reference/supportive tool in addition to your analysis.
Short Copper at CMP ($2.680) SL: $2.689 Target: $2.64720
Copper Some resistance going at that level
Correction or Impulsive Down Move - Only Time will tell. However one can stay with a short side bias for next month or so and play for a move to 2.3 Area (Green Line)
Copper has completed abc correction that began in early 2016. It is also at the top of a LT channel. Copper seems to have started a corrective (possibly impulsive) move from 2.8 highs; this should take it to a target of 2.49 in the short term(also a strong support zone)
price move below neck line and move for test in zone... what wil happen ?
Nothing More to add to my last comments. Except that the possibility of a last push up to Green Area still remains in Play.
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