Is copper leading the heat upwards, or is it misconducting us?

9월 13일

On the 4H COPPER has formed a rising wedge. Following the drop from Aug 27 it hit the Fib sweet spot, retraced, and then dropped quite a bit. It has now turned and crossed significant Fib levels on its way up and is currently resting on the 61.8% level. The 50EMA is also crossing up through the 100EMA. A retrace into the sweet spot (50% - 61.8%) could be considered a false break, as it would also break the lower wedge line. There is some resistance ahead, in my opinion the strongest will be in the $4.30 area as this is the most recent high. Looking further back, the high is $5.172. There is also news coming out of China that demand is picking up. My first target would be the resistance around $4.30, this would also be a break of structure on the daily, and if this breaks the next recent high is $4.689 from early July.

9월 18일

액티브 트레이드

Copper has broken both levels of resistance, and is currently around $4.31. It might be some rouch sailing this week, with economcic data being released, and Copper might find itself affected by movements in the market. I believe there is more to come for Copper.

9월 26일

코멘트

Copper keeps getting hotter, and is approaching the mentioned high of $4.689 from July. After a very good run, this would be a nice level to take some profit.

10월 3일

거래청산: 타겟 닿음

Target was reached, and following this price has shown some weakness. Case is not looking too strong at the moment, so I will close my trade for a nice profit.