Copper (spot) - Intraday - We look to Buy at 2.6650 (stop at 2.6450)
Although an initial dip was posted, buyers emerged and follow through bullish momentum resulted in all the previous day's losses being overturned.
Trading inside the Daily Ichimoku Cloud. Price action has posted a bullish Engulfing Candle and is positive for...
An amazing asset value company with newsflow
Copper & gold play.
potential financial partners in talks at moment
Several assets within Indonesia
An amazing track record BoD
8p 1st target with 15p mid-long term. 15p+ on big news.
At great value at moment & a bargain considering the assets.
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.