we recently saw the break of an important trendline
. i was waiting for some consolidation to buy. but due to the rapid spike down, there wasnt really any chance yet. however, at least that gave us a little bit of a head and shoulders
formation, in which the right shoulder can act as the desired consolidation. so if we break the lower dashed line to the downside i think copper
will probably stay in the head and shoulders
region 2000-2150 probably till the end of march filling out the orange curve more cleanly.
but we might also just break to the upside next week. so keep an eye out for that.
however, if we indeead break out to the upside straight away i think i will wait for another consolidation level on the 4h to go long rather than to go long straight away, we will see.