COPPER : REBOUND
- The market registers higher peaks and bottoms, trading within a bullish channel since the end of October 2023, the medium-term trend is therefore bullish.
- Very recently, prices recorded a 4th impact on their bullish trendline, following a sell-off since the failure below the $397.40 area.
A strong positive reaction is currently recorded in the shape of a piercing price pattern, following a bullish divergence registered by the Stochastic indicator.
- This is a bullish rebound situation. Indeed, bullish investors appear to be numerous and powerful enough to prevent the market from breaking its downward trend line. The next targets can be located at $387, $391.10 then $397.40 and finally above $400 by extension
- Very recently, prices recorded a 4th impact on their bullish trendline, following a sell-off since the failure below the $397.40 area.
A strong positive reaction is currently recorded in the shape of a piercing price pattern, following a bullish divergence registered by the Stochastic indicator.
- This is a bullish rebound situation. Indeed, bullish investors appear to be numerous and powerful enough to prevent the market from breaking its downward trend line. The next targets can be located at $387, $391.10 then $397.40 and finally above $400 by extension
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