Copper forms "Bullish Gartley", good to buy dips
Copper is extending bounce off multi-month lows (not seen since Feb 15th) at 2.037 hit on May 19th.
Bullish Gartley Pattern on daily charts.
Techs also support upside, Stochs and RSI have rolled over from oversold region and are biased higher.
MACD line has shown a bullish crossover on signal line.
21-DMA at 2.1230 is immediate resistance on the upside. Break above to see next hurdle at 2.138 (38.2% Fib).
Supports on the downside are seen at 2.077 (converged 5&10 DMAs), 2.037 (May 19th lows) and 2.030 (trendline).
Good to buy dips around 2.10, SL: 2.077, TP: 2.123/2.138/2.169
Bullish Gartley Pattern on daily charts.
Techs also support upside, Stochs and RSI have rolled over from oversold region and are biased higher.
MACD line has shown a bullish crossover on signal line.
21-DMA at 2.1230 is immediate resistance on the upside. Break above to see next hurdle at 2.138 (38.2% Fib).
Supports on the downside are seen at 2.077 (converged 5&10 DMAs), 2.037 (May 19th lows) and 2.030 (trendline).
Good to buy dips around 2.10, SL: 2.077, TP: 2.123/2.138/2.169