pato
Long

XCUUSD (COPPER)

OANDA:XCUUSD   CFDs on Copper (US$ / lb)
Copper looks to be doing something really interesting longterm. Watch this closely.
Comment: Upon closer inspection

Comments

If US goes ahead with fourth stimulus. Infrastructure rebuild copper will be in super high demand and price will go parabolic.One to watch for sure.
+1 Reply
pato Billyboy1947
@Billyboy1947, Are they still planning on rebuilding even with the current economic condition? Also, thinking about it, rebuilding might be some they can do to give people jobs and stimulate the economy. Thanks for that comment.
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@pato, It might be a little early to trade it. But I know people are watching copper close and waiting on what congress wants to do. The president is onboard but time will tell. Once it is final the market will go crazy. I believe another 4 trillion will be involved. If it looks like a done deal I would try to get in slightly early if possible.
Reply
Billyboy1947 Billyboy1947
@Billyboy1947, Some of what you are seeing might be because of the above comments. The track up and the volume seem to support this
Reply
pato Billyboy1947
@Billyboy1947, oh yea...I think we might consolidate close to 2.2 first as shown by my second picture, and then climb. There is also a case for one more dip before a definitive bottom so I'm not tunnel viewed on it. either way, Im watching it close for a long position.
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