We maintain a bullish view on Copper. Currently, copper prices are testing our first support, in line with our 61.8% fibonacci retracement, graphical support area and 100% fibonacci extension where we could see a bounce above this level to our first resistance target. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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Disclaimer
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.