Copper's Inverse Head and Shoulders Setup
I have to admit that I'm surprised by this bullish setup in copper, but it is what it is. The price target, if the H&S is confirmed, is the result of a completed AB=CD pattern and a 0.786 retracement of the March to June downtrend. Does this portend a rebound in China or is it due to home builder strength in the USA? Perhaps both? We shall see.
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