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
Where is the Bitcoin bottom? Can you buy the dip now? Cathie Wood suggests swapping gold for Bitcoin.On Tuesday (February 3), panic in the crypto market eased as Bitcoin ( BTC) prices reb
Bitcoin’s two-year rolling MVRV z-score has dropped to its lowest level ever, pointing to extreme undervaluation.
Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
Bitcoin prices briefly fell below $75,000, hitting a new 10-month low, though the probability of continued short-term downside remains low.On Monday (February 12), the cryptocurrency mark
Bitcoin price targets remain bearish as it struggles near multi-month lows, influenced by historical bear market trends.
Related Instrument
