InvestingScope
Long

Copper: +7% bullish potential.

OANDA:XCUUSD   CFDs on Copper (US$ / lb)
Copper is on a standard 1D bearish sequence ( RSI = 39.990, MACD = -0.034, Highs/Lows = -0.0234) that has just (marginally) crossed the 2.74170 Support. With the RSI however approaching the 32.800 mark, a bullish reversal alert is triggered as the last 4 times that the price bounced near or just below this mark, Copper gained +7 to +8%. Assuming that happens now we are looking at a 2.9000 target. If it takes place lower (-3.85% lower by the previous occurrence), we expect 2.80000.






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