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CUU

POSSIBLE HEAD AND SHOULDERS FORMATION IN COPPER CUUCopper looks to be forming a head and shoulders pattern here which should break to the downside and as you know from my past publishes, targets are outlined in yellow. Might want to take a look at commodities, as formations there looking like a break back down, e. g. crude oil looking go likely revisit mid to lower $40s. HELPFUL VIDEOS TO TEACH YOU: www.youtube.com www.youtube.com DISCLAIMER; Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders. All comments and questions welcome, if curious about indicators I use then feel free to inquire. IF YOU SUPPORT IDEAS, DO LIKE, FOLLOW & SHARE. ~ THANKS! ~
OANDA:XCUUSD
by Dani0
1
Copper Rally - Wyckoff Analysis 5D TF - LONG - $CUUClassic Wyckoff setup. So good. 5-year downtrend led to a Selling Climax, which was followed by and Automatic Rally. Accumulation period was 1 year. Spring and Secondary Test followed to start the new rally. Signs of Strength and LPS combo = rally "A series of SOS’s and LPS’s is good evidence that a bottom is in place and Price Markup has begun." The rally has started. #BTFD, buy the dips, unload/reload at pull backs at own risk. Targets: Fib levels displayed on chart. If fractals play out, it is a slow and steady climb up for the next 2-3 years. If $copper breaks all resistance levels, it could ignite a an intense move upwards before correcting long term. Note: Copper leads the way for Gold and Silver (lagging the most). This is the pattern $Silver will eventually show after accumulation. Copper is used in industrial infrastructure. China is a big player due to economic reasons. Automotive demand forecast by the International Copper Association: copperalliance.org Electric cars Battery manufacturing $CCU $Copper $XAG $Silver
CLong
by MoonPickle