Is "China hedge" unwind coming?

FX:COPPER   CFDs on Copper
93 0 5
For those who don't follow me on Twitter and have not seen my chart post there earlier today.

- Ichimoku setup is bearish , but for last 11 weeks we have seen only higher lows! This is almost a 3 months bearish consolidation
- Heikin Ashi shows slight bullish divergence through haDelta/SMA3. HA candle is still red, first key level is Tenkan Sen at 2,3590

- Price failed to break and stay below the Kumo -> if no lower low, bears will start to cover. Price ticked back up to 2,35 equilibrium. Please not that future Kumo's Senkou A and B lines started to point up.
- Heikin Ashi prints a bullish patter yesterday and today. Bullish momentum can increase above 2,36 and 2,40.

Many Hedge Funds used Copper             and WTI shorts to hedge or to play the bearish China equity story. Especially after Chinese regulator banned short selling on stock markets. The question is how much of these proxy hedges are still in the books? If there are heavy amounts, a technical short squeeze could shoot Price up to 2,65 +/- area.
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