COPPER New Bull Cycle confirmed. 6.7600 possible.

19 באפר׳

Copper (HG1!) has emphatically broken above the last Resistance of the 2-year Bear Cycle as it smashed through the top of the long-term Triangle pattern. The same pattern kept Copper on a Bear Cycle up until June 2020 when it started the remarkable rally to the 5.000 High (1.786 Fibonacci extension).

As you can see on both fractals, the formation of a Death Cross on the 1W time-frame signaled the bottom (Feb-March 2020 is the COVID crash exception, if that hadn't happened, the Triangle could have even broken upwards earlier).

Our minimum Target on the emerging (green) Channel Up is 6.7600 (Fibonacci 1.618 extension).


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