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
Since 15th Jan 2016-- Copper QC moved impulsively & made a top@2.3200..Since then it retraced & has been moving sideways- almost completing an H& S pattern.
so once we move above 2.2400 -it the first clue & above 2.2900.. Copper QC contract shall move strongly upside in the zone 2.5500 to 2.5700 which is the target zone of Head & Shoulder...
