HGHO #44: Copper
In the light of the Chilean earthquake, and its possible after effects on copper prices, a member has asked for my thoughts on the copper chart. Copper is not something I have looked at for some time, but you can see on the chart there was an ideal opportunity to go long (first 2 yellow spots) using the Ichimoku signals. Currently the up-trend line has been broken and the price action is now testing from the underside. Old support often becomes new resistance, so perhaps pay attention to the yellow box (4H chart) area which contains the trend-line, a Chikou resistance and the round figure (350) near a recent high. Perhaps this pattern could turn into a 123 reversal. (See education on 123).
For Ichimoku learning.
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