FX-COPPER chart - Trading View
Technical Analysis: Bias Turning Bullish
Copper prices on LME were up over 1.42% on the day, signs of upside resumption seen.
Pullback from multi-year highs has held strong support at 55-EMA and daily cloud.
Oscillators are also showing signs of rollover from near-oversold levels, bias is now higher.
Price action along with major moving averages have edged above 200H MA and volatility is high and rising on the intraday charts.
As the pair grinds highs in a bullish W pattern, resumption of upside will take price higher to test 2021 highs at 3.7328. Further bullishness will see new multi-year highs.
