SignalSwiss
Long

[COPPER] POTENTIAL BULLISH SETUP (part. 1)

OANDA:XCUUSD   CFDs on Copper (US$ / lb)
Good morning Traders!
Copper could develop some interesting swing in short to medium term, having said that, if the price action will confirms the first bullish rally, it is possible to try to take a long position on pullback as shown on the daily chart . With this in mind, even if the TARGET seems very interesting from the BUY AREA OPPORTUNITY, the Money Management is not very good (we will have a R/R ratio <1: 3), so it should be correct to use a reduced size for this setup. During the next sessions we will continue to follow the copper , because at the moment the levels shown on the chart are only indicative.

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Cheers.
Dec 12
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Comments

Very nice analysis! Thank you!!
+1 Reply
Hi, thats a gr8 analysis. Your updated chart shows that we r currently in the resistance area.. I was expecting copper to clear the resistance once US China Phase 1 deal is done.. So kind of confused that it didn't, is it looking for some catalyst for further move up? if yes, then may be the press conference could be the reason. What do you think?
Reply
Chinese imports are on the up and so is China's factory orders. Copper should get a bid - have no idea about the ups and downs on your chart but good luck.
Reply
@ForexVox, For this reason we do not take a long position now but we await confirmation ("first rally"), thanks for your comment and have a nice day!
+1 Reply
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