Undoubtedly is that with the election caused the boom of the red metal (also used in construction) although this still not applied any of its promises, its effect can already be felt in the quotations
Bullish BAT the price of copper lends itself very well Bearlish and Bulllsh
Around 50% retracement from 2.73, and Kijun support on 4H chart. Let's buy and keep on waiting.
Once wave C is over, a bearish reversal should occur. It seems to be too late to join the bulls now.
Copper may be setting up for a long. This level is in the middle of a range so, it is not the strongest however watch the price action to see if it holds.
The current structure hints a conclusion of a wave C downtrend to a prior impulse ended @ 2.2770 marking a wave 5. A new impulse substructure has broken the wave iv on C indicative of an uptrend onset. however, if any failure the impulse fails to swing an uptrend wave C ending should serve as a protective stop as well as a new entry point.
There is a potential bat pattern setting up on copper, since it is 1D timeframe, it may take a couple of days or weeks to complete if it does at all I'll be keeping a close eye on it and looking for a long opportunity at the completion
Copper is in an uptrend in the 4h/daily chart and is very close to the lower trendline of the channel. It has started moving up. The lower trendline and 61% retracement can act as very good support levels. With those as the SL, this seems a high probability long setup. Target would the 100% FE of the previous impulse up.