Copper Futures COMEX:​HG1!

Copper prices are diverged from RSI. Price action is loosing momentum. Which increases the risk of buyers selling in frustration.

CU trend line break

Copper should be heading lower to around 2.25/2.35 in the coming weeks. Crucial support at 2.55 gave way today.

Copper Futures heading higher to 2.85/2.90 zone. Stop 2,55

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)

KST indicator has turned up indicating a swing up to the 2.75/2.80 zone in the coming days. Stop @ 2.525 (beloew previous swing low)

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)

Copper Futures heading for bearish breakdown from ending diagonal pattern (Wave 5 end usually)

Nothing much has changed in my earlier copper analysis

Nothing much has changed in my Copper Analysis.

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

With Limited possible upside, distribution may soon begin. Be Careful with LONG entries.

* Bullish Harmonic

If price trades above the blue line and trades there, next resistance could be the falling green line and then the red falling TL at 2.2500.