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).
Noticed what could be seen as a "double bottom". The pair is currently in a correction and heading to a zone where there was some resistance back at the end of 2016.
The correction could carry on for a bit longer, so, for now, I'm waiting to see if the price will break out above before I enter the market. At this time I'm waiting to see what the market wants to do here.
Looking like a Triangle correction and so I'm in a trade within this pattern. Entered at 120.12. I'm expecting some resistance around the 121.50 to 122.00 level so I'll aim to lock in some profits before this and then wait and see what happens after that. Will it then bounce back, or will it push on, though? I'll wait and see if it get's to this point.