Appears to be the bottom of a minor correction, Vix Fix indicator highlighted for confirmation + ABC consolidation pattern.
Very bullish on copper due to high demand for batteries in the next decade, from electric cars (some countries are banning gas-powered cars) to solar panel systems.
Demand for copper to proliferate between now and 2035-2040.
Copper is in an uptrend in the 4h/daily chart and is very close to the lower trendline of the channel. It has started moving up. The lower trendline and 61% retracement can act as very good support levels. With those as the SL, this seems a high probability long setup. Target would the 100% FE of the previous impulse up.
The Copper is bottoming out in the last two weeks or so after a strong downside movement. According to the Matrix the Copper is ready to shift its primary direction towards north. A new upside trend is imminent with the potential upside move of about $20 straight to the major resistance of the Matrix at $2.2700. I have placed my Stop-Loss at $2.0285, which ...