Keep an eye here for T-line break & close above
we had a bullish divergence happen recently and bounced from the support which was previous resistance back in 2015
1.7p-1.8p is next resistance level & a few resistance areas like 200ma so be wise & slice accordingly - Don't hold forever.
So copper seems to have bottomed twice around the 2.60 area and is trying again to push higher following its rapid demise mid 2018.
Technically we can see the chikou san is still below price 'N' periods back and the tenkan san is yet to cross the kijun san to signify the possible start of an uptrend. However it's going to have to push through well set resistance...
A new shorting opportunity may be coming soon in Copper. My downside targets will be the break of the neckline, and then to the lower line. Next week should be critical in determining whether copper is ready to initiate a further down move.
It's a beautiful chart what can I say?
Not holding any shares so completely unbiased.
If copper price starts moving watch out for a good bounce from here. I think the selling is slowing down last few weeks.
Price has closed yesterday above descending wedge and today we are rising in attempt to break the 200ma.
if we close above 200ma then not much resistance as there is no MA's above so it will be easier to move.
BFS is around the corner and could be released any day now so momentum is building.
24p is broker target which is over 100% from here.
Good luck all.
Previous resistance can truly become support many times over.
RSI way oversold. price action will determine the rise on lower timeframes.
great opp here, make sure you have a tight stop loss in case it doesn't hold.
the chart shows that TA works. It is a fact.
If fundamentals are in place then even better. and as you can see good companies have great trends.
retrace at 78.6%
retrace to 50%
retrace to 61.8%
retrace to 78.6%
Nothing goes up in a straight line. retracement brings new traders and investors, builds more interest in the company.
Keep you stop losses regardless...
Quite bullish on the price action based on trend and fibs
I believe 9.55p - 9.8p was the bottom for this move
As long as we hold the trend I belive we will go back to highs in time.
Will slice again when RSI gets overbought and keep my long term pot for bigger gains.
Looking for price to hold at this levels
unfortunately it lost the trend line but not all is lost.
plenty of newsflow to come over summer and always time for swings.
last placing was at 11p for £7.2 Million so I'm sure this level should hold.
17.55p a better target based on distance between both highs. but will check again once we hit 16p which I think we will.
RSI about to break last highs and looking good at moment.
CCI down trend broken and on a bull run.
One of my long term favourites since 2.20p
Ben trading in and out but more recently came back in as long term as well as a trading pot.
Target 16.15 & 17.60p - Believe we will get closer to the latter based on distance between the last two highs
Now the red upper channel has been broken, will the bulls push Copper on up to the upper BLUE channel, or will it break out of the current Orange parallel channel before doing so? I'm bullish (at the moment).