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
As of the Asian session on July 27, gold prices ( XAUUSD) opened with a strong gap up today and maintained its upward momentum intraday, briefly breaking through $4,100 during the session
Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.
As of the Asian session on July 24, gold prices ( XAUUSD) fell continuously during intraday trading, briefly approaching the $4,000 mark. Looking at the chart, gold prices rebounded this
Affected by the continuous escalation of geopolitical tensions in the Middle East, Brent crude ( UKOIL) broke back above the psychological $100-per-barrel threshold after two months, as m
Today’s Market Recap: Oil Breaks $100, Fueling Inflation Fears, as AI Capex Faces Scrutiny and Tesla’s 14% Plunge Drags Down Tech SectorTracking the Market TrendTradingKey - The market was hit by a double whammy of soaring oil prices and doubts about the return on AI investments sparked by increased capital expenditures at Google(GOOG
Tracking the Market TrendTradingKey - The market was hit by a double whammy of soaring oil prices and doubts about the return on AI investments sparked by increased capital expenditures at Google(GOOG
Related Instrument
