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InvestingScope

Copper: Buy opportunity on a 1W Rectangle.

Long
CFDs on Copper (US$ / lb) (OANDA:XCUUSD)  
InvestingScope  
OANDA:XCUUSD   CFDs on Copper (US$ / lb)
Trend Analysis Chart Patterns Technical Indicators Copper Copper Futures HG1! Metals Commodities xcuusd (Copper)
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trendanalysis chartpattern indicator copper hg1! metals commodities xcuusd
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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