See chart for analysis.
Logic is quite simple - to reignite the economies worldwide, governments would have to spend a lot on infrastructure projects to create jobs. Copper, as one of the key commodities in many infrastructure projects would be in high demand.
And this chart is showing the price action being depressed for quite a while. It has now broken out of the bearish trend and is preparing its bullish move.
There is a high likelihood we see some consolidation here before it breaks out and soar higher.
You can put this in your watchlist !
Logic is quite simple - to reignite the economies worldwide, governments would have to spend a lot on infrastructure projects to create jobs. Copper, as one of the key commodities in many infrastructure projects would be in high demand.
And this chart is showing the price action being depressed for quite a while. It has now broken out of the bearish trend and is preparing its bullish move.
There is a high likelihood we see some consolidation here before it breaks out and soar higher.
You can put this in your watchlist !
Note
Praise the Lord. Did anyone make money from this ?Note
6 dollars profit thus farNote
11 dollars profit nowNote
Praise the Lord for he is a God of Abundance.Note
God is good all the time. All the time, God is good!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.