It seems that Copper just retracement was ended at fibo 1.618 level.
Meanwhile, there's an intensive buying area from late Aug to mid Sep., strong support here.
So just go long in buying zone.
Meanwhile, there's an intensive buying area from late Aug to mid Sep., strong support here.
So just go long in buying zone.
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longer term target:2.7
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1st target:$2.7 hit, i pocketed the profit at $2.68, and will waiting for retracement.
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My earlier trading stretagies for Copper:
1.
2. www.tradingview.com/...ig-deal-long-copper/
3. www.tradingview.com/...Copper-Final-bottom/
1.
2. www.tradingview.com/...ig-deal-long-copper/
3. www.tradingview.com/...Copper-Final-bottom/
China is likely to squeeze real estate bubble gradually, they want a soft landing. After G20,centre banks reached a consensus, cutting rate or direct QE won't be an effective method in the coming year. It isn't lack of money, but circulation. Hot money is flowing into commodity market and stock market. Meantime the CNY is depreciating step by step. Commodity price will rise.
Next week,let's see the bullish Dr.Copper!