Looks like copper is ready to break the upper trend line and hit $4/lb+ on this move. Strong momentum likely carries it past $4/lb before a retracement perhaps back to the upper trendline (new support).
I really like the setup here.
Silver looks like it is setting up for its next move higher. Good risk reward at current levels and fundamentals are favourable with demand for physical at elevated levels and US dollar at near-term tops.
Down-side risk around ~$25.50 vs. upside >$31.00
Long silver here.
Stock is close to finishing a retracement of its recent run-up.
Fib retracement of 0.5 is $11.91 and trend support around $11.91 and 50dma at $12.06.
With good support likely at those levels and a fib extension >$15.63 creates a good asymmetric entry in the low $12 range.
