InvestingScope
Long

Copper: Buy opportunity on a 1W Rectangle.

OANDA:XCUUSD   CFDs on Copper (US$ / lb)
Copper has been trading within a long term 1W Rectangle ( STOCH = 49.048, Ultimate Oscillator = 49.708) with 2.52850 - 2.53850 as the Support zone and 2.83470 - 2.84595 the Resistance. A repetitive pattern that stands out is a sharp rise that is followed every time after a 1D Lower High sequence breaks to the upside. We are currently close to such an event so we are on a medium term long with TP = 2.78300.







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