BitcoinWiser

$5: Copper Aiming for New ATH

Long
COMEX:HG1!   Copper Futures
One of the best looking and yet under-rated commodities chart has to be of COPPER .

I know Gold and Silver bugs don't usually get strayed with non-precious metals but technicals are surely juicy if you are able to take a multi year position. My guess is it will be early 2023 when we break through the new ATH .

Notice the divergence of price and OBV + a successful 'price action' breakout in the last 3 months. Wait for another 3 months to absolutely confirm the pattern and then off you go.

Even the last two volume candles are strong (>=MA) which shows consolidation under place.
Trade active:
Copper hits target 1 $3.8
Trade active: Copper does delight at $4.35. Aiming for a $5 breakout soon

Trade active: Will close trade at $5 - I mean this was the easiest trade of 2021 #copper

Comments

I agree, I think copper will see a lot more interest in 2021. The 'green recovery' is facilitated by copper. Chart looks good also.
Reply
@robb119, thanks. In fact Nickel too is a close second which looks bullish in commodities.
+1 Reply