TradingShot

COPPER is one of the best investments on a 2 year basis

Long
COMEX:HG1!   Copper Futures
Investors looking for value long-term better have a look at Copper , which has been consolidating ever since its May 2021 All Time High (ATH). The 1W MA50 (blue trend-line) has been supporting all this time, indicating that the market has found a new long-term demand zone where buyers step in.

The last time a similar demand level on the 1W MA50 took place was half-way through Copper's historic parabolic rally of the 2000s. In particular, in February 2004, the market made a similar High (red flag), then turned sideways into a +1 year accumulation period, when again the 1W MA50 was supporting. Eventually that demand level initiated the last and more aggressive part of this rally during 2005-2006. The 1W RSI sequences between the accumulation phases of today and 2004 are also identical.

The 2006 rally peaked a little higher than the 2.0 Fibonacci extension . That should be a solid benchmark for long-term investors looking for value.



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