COPPER

Copper OANDA:XCUUSD


Here we have copper             where we have seen some major moves for the last few months. the analysis below is a long term analysis.
– monthly wedge broken and retested back in December 2016
– price over all is in an ascending channel
– price has hit the mid range supple levels where we have seen retracements back it up to 50 %.
– currently monitoring price action against the Peru copper             prices and also the dollar prices for some more moves. possibility is that we should see some further down side to 61.8% demand levels in the region of $2.46628 zones
– we will open out long term positions to all supple structures with final point of call being the 127% extensions targets with net 58% gains.
– currently eyeing the $2.46628 region for entries and possibly lower are well to dollar cost average on these entires.
-overall net exposure is to be 5% with all supply structures being breached to become demand structures where we will gradually scale out profits. excited to see how 2019 will play out !!!! 🙂

By admin