Copper is very close to losing criyical support. If this daily chart trendline breaks, there is a big move down into the next support. Copper Equity stocks are already teing us aa likely breakdown in the commodity is coming. Is this base metal signaling weaker economic demand & growth?
After FCX took the key 48 Level with volume, its clear they s/r flipped it and are looking for ATH around 62. Do they get there this week? Watch to see what we think!
Keeping an eye on FCX for the completion of a cup and handle formation breakout. This is a great long-term investment as well, that pays a dividend.
FCX moving towards a finish in wave 3. Looking for a correction then final move in this impulse.
Recent price action in copper looks terrible.
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
The copper trend should commence once overhead resistance is taken out. Wave 3 should bring us to $3.42 per lb before our ultimate target of $3.50 - $3.60 later this year!