copper future huge move comingif the lower line is respected, a breakout above the falling wedge might lead to huge movement
Copper Futures HG1!
COPPER $5.15+ SOONIt is lying at lower line of the channel. hopefully stay in it & touch 5.16 in next few weeks
#MCXCOPPER #COPPER correction completeMCX Copper has just traced out a pattern that can be interpreted as a A-B-C Zigzag from recent highs. All 5 subwaves of the final C wave seem to be in place. This now means the uptrend should be back in force to new highs. Hold longs with Stop at recent lows.
#MCXCOPPER breaking out of a triangleLook for a strong upmove the next couple of days as Copper heads out of its sideways triangle pattern. At present the triangle seems complete and the next wave upwards is in its early stages.
Dr CopperCorrection 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)
CopperNothing More to add to my last comments.
Except that the possibility of a last push up to Green Area still remains in Play.
Copper - Status QuoNot 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
