Tickmill

Copper prices are facing bullish pressure, potential upside

Long
OANDA:XCUUSD   CFDs on Copper (US$ / lb)
Copper prices are testing our first support in line with our 23.6% fibonacci retracement , 61.8% fibonacci extension and ascending trend line where we could see a further upside above this level. EMA and Ichimoku cloud are showing signs of bullish pressure as well, in line with our bullish bias. A break above our upside confirmation level in line with our horizontal swing high resistance could provide the bullish acceleration to our first resistance target.
This analysis is provided as general market commentary and does not constitute investment advice.

Comments

And is it all times high. Do you no expect a big drop first to take some liquidity?
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Thanks forvthe idea. Let see what happens
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