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InvestingScope

Copper: Significant upside potential.

Long
CFDs on Copper (US$ / lb) (OANDA:XCUUSD)  
InvestingScope  
OANDA:XCUUSD   CFDs on Copper (US$ / lb)
Trend Analysis Harmonic Patterns Chart Patterns Copper Copper Futures HG1! hg xcuusd (Copper) Metals Commodities
6
4
trendanalysis harmonicpatterns chartpattern copper hg1! hg xcuusd metals commodities
Copper is on a 4H bullish leg (RSI = 62.650, MACD = 0.014, Highs/Lows = 0.0064), after finding support around 2.6000. It just crossed (marginally) above the MA50 and on similar patterns since September 18, this calls for a bullish extension at least towards 2.8400, which is our TP. Breaking above the MA200 enhances the probability for a test at the 2.95000 1D Resistance.







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