Copper formed an ascending triangle from mid-February, triggering the pattern on March 12. The price moved higher as expected but remains just shy of its target at 5.12. If there is a pullback toward 4.91, or in the worst case down to the breakout point at 4.84, traders will likely see this as a buying opportunity to align with the pattern's upward momentum. The pattern remains valid as long as the price stays above 4.78, a level just below the strong retest of the breakout point on March 13.
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This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.