COPPER Going well according to our long-term plan.

Last time we looked at Copper (HG1!), we established our long-term strategy (April 19, see chart below), which involves a new Bull Cycle, through a Channel Up pattern similar to 2020 - 2021:


So far the plan goes flawlessly, as the price hit the top of the (green) Channel Up and is now pulling back. The 1W MA50 is about to complete a Golden Cross with the 1W MA200, the first one since January 11 2021!

On the shorter term (current chart on 1D) the price is approaching the 1D MA50 (blue trend-line), which is the short-term Support but as with last time, we expect it to marginally break before Copper bottoms and makes a new Higher Low on the long-term Channel Up.

To those who missed an early buy, we recommend entering once the 1D RSI hits its Support Zone. Our medium-term Target is 5.200 (Resistance 1).

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