CopperNothing More to add to my last comments.
Except that the possibility of a last push up to Green Area still remains in Play.
CA1! trade ideas
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
A continuation trade in CopperIf 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.
Copper QC Contract- H&S Pattern 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 Pattern.
Regards,
Abhishek H.Singh, CMT
