Nov 05, 2016 - (Chart of the day) Copper - Update: First Target Hit

Hi,
this is a short update to our Copper analysis from mid-September ( Chart of the Day from Sep 14, 2016 below or click here). We hit our first target and we still expect higher levels twds 2,47/2,50. We like buy dips twds 2,10 ( and lower ) but remember as described last time only close above 2,5 will change our view from neutral to bullish. From bears perspective we need to close below 2,00 ( 1,93 ) to confirm bearish trend ( we do sellers activity around 2,5 - TrendLine on Weekly chart ).

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Chart of the Day from Sep 14, 2016 below or click here:

Copper - two charts below - weekly and daily.

The second chart ( daily ) is showing that bulls already started their work ( or simply bears took some profits ) but first chart ( weekly ) is saying that is still long way ahead.

Please check the levels ( notes on daily chart ). Psychological 2,00 has to hold if bulls want they dreams come true :)

Weekly chart:

Daily chart:

Please let us know should you have any additional questions or you would like to discuss other crosses as well. We are here to help you, just contact us at: landoftradingATgmail.com.

Happy Trading

Mr Price Action

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