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Lanmar
Jun 9, 2017 4:57 PM

Copper outlook (weekly scale) 

Copper FuturesCOMEX

Description

The way I see it is this. The resistance level at the 2.90 - 3 range is so strong that if copper breaks through it, it will break through it like a knife in butter and will probably trade in the all-time highs again. This trade is extremely interesting because of the strong support directly below the low of the flag. The yellow wall could arguably be a monthly trendline breakout confirmation, though the symmetry isn't ideal. A big part of me wants to be long as we approach the 2.90 region.

Comment

Major breakout. Stopped in major resistance level. I think we blow past it. We'll see how..

Comment

Like butter... Look out for high 3s low 4s.
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Smokwawelski
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