Copper: Beyond 9530, price can target the pattern near 9780/9830 – BBH
Source Fxstreet
LME Copper broke out from a base in the form of an Inverse Head and Shoulders pattern recently and marched towards 9530, BBH's FX analysts report.
Upward momentum us prevalent in Copper
"It successfully defended neckline of the formation near 9290 in last pullback. Daily MACD remains anchored within positive territory highlighting prevalence of upward momentum. Defence of 9290 can lead to persistence in up-move. Beyond 9530, next objectives could be located at target for the pattern near 9780/9830 and September 2024 high of 10150."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Solana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Sui (SUI) price extends recent gains, soaring10% higher at the time of writing on Thursday and approaching its key resistance level at $3.65.
As price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance.
Related Instrument
