Copper is within an ascending triangle and currently starting next wave to major support. Now is a good time for long entry with stop loss under the ascending support line. Targets are drawn in the chart. I expect a last small correction from major support before the real brakeout from copper can start.
Copper is probably making the 4th wave, and for the completion of that correction, it should go up one more time.
That's why I'm looking for long trade setups. As you can see, it's still in the uptrend, and after it had bounced
back it broke the trendline. So, that wave can be the reversal impulse, and it looks like it's making a correction
We are having very nice buy opportunity on Copper.
Watch for the breakout and buy the breakout.
In case we are going to see a bigger correction gere then let it forms and then look for buy.
Buy setup is valid as long as price stay above the previous low.
Watch for the retracement of the impulse on lower time look for buy even before the ...
Copper price has beeb trading in a bearish channel since the start of October. Now price is trading back at key resistance once again. Look closely to the performance of Chinese large caps for future headway for Copper. Nevertheless, with trade war still looming large, a bearish reversal seems to be the most likely scenario.
Bearish Reversal: ...
Copper has gone down in a 7 swing fashion. I still expect one more move up to break the high given the corrective nature of this move. When I look at the larger structure, another push up also makes sense to complete a larger expanded flat.
It looks like we have a completed regular flat. I was looking at the last up wave
as a reversal impulse, but as you can see it broke the bottom again. Now, I'm waiting
for a reversal impulse and correction to place an entry order and my target is 2.92
which is 0.50 retracement and the price level for the completion of the equal size correction.