Copper Stock Market Price At A Make or Breakpoint?
We are not going to go into a detailed analysis here as the picture is relatively clear. The trend indicator is neutral. All this data suggests that if Copper does not hold above the level stated below, then the bottom could fall out.
Copper dropped and tested its recent lows after trading as high as 320. As long as it does not close below 309, a double bottom formation will take hold. A double bottom formation is quite bullish and if it holds, copper should be in a position to test the 330 ranges and possibly trade as high as 340 before correcting. Is the Copper Stock Market Price at make or breakpoint? If copper fails to hold above 309, then new lows are virtually guaranteed.
Copper Stock Market price outlook May 2019
The pattern in the copper market is quite bullish here; copper could easily trade north of 3.20. Copper is one of the leading economic indicators, and for now, it is stating that the economic outlook remains bullish. If the economic outlook is optimistic, then the current correction/consolidation represents a buying opportunity. A monthly close above 2.90 will pave the way for a test of the 3.20 ranges with an overshoot as high as 3.60
Copper Stock Market Price Update August & Nov 2019
The next bullish MACD crossover is most likely going to lead to a very strong breakout. If the current pattern strengthens or remains unchanged, then copper should be trading north of 4.20 within the next 9-12 months and possibly as high as 5.10.
These two leading economic indicators were dead for a long time, but they are now issuing bullish signals, and this indicates that our original upside targets of 30K might be too conservative. However, before we start issuing higher targets, let’s see how the Dow reacts when it gets to 29K. market Update Aug 2019
The MACD’s on the monthly chart of copper are dangerously close to experiencing a bullish crossover, and as copper held up fairly well during the last consolidation, the next upward move is likely to be explosive. In other words, two leading economic indicators will soon validate this bull market, and it will be very interesting to see if the hypothesis above comes to pass. What we can say is that we are in for some very interesting times ahead. Market Update Nov 10, 2019
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