Looking at the weekly chart with 200MA for CPER. I'm a fan of owning physical metals but CPER is a nice way for people to dabble in copper without actually getting bullion.
The 200MA is now coinciding with the lower boll band. On a weekly chart I'd expect this to serve as rock solid support. I've mapped out the trajectory of the 200MA if it continues to uptrend like it has, and its represented as the bottom line of the white parallel channel. Price action around the green rectangle should present a great entrance opportunity, with a target to exit at the top of the parallel channel.
Fundamentally I'm quite bullish on copper. It drives the green energy revolution and inventories are tapped out worldwide. Disputes between miners and governments are taking place and those never end quickly. Good luck out there, NFA.
The 200MA is now coinciding with the lower boll band. On a weekly chart I'd expect this to serve as rock solid support. I've mapped out the trajectory of the 200MA if it continues to uptrend like it has, and its represented as the bottom line of the white parallel channel. Price action around the green rectangle should present a great entrance opportunity, with a target to exit at the top of the parallel channel.
Fundamentally I'm quite bullish on copper. It drives the green energy revolution and inventories are tapped out worldwide. Disputes between miners and governments are taking place and those never end quickly. Good luck out there, NFA.