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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!
Previously Teck gapped down from here with follow through and now has returned. I'm looking for a short term retracement at this supply level. Copper is currently in an up trend and hit a major supply area.
Entered a small position today on TECK, looking to add to my position around $29-30. Watching this closely to determine if cup-and-handle pattern is forming.
TCK showing bearish divergence between price and 14 day RSI