FxWirePro: Copper trapped in Bull/Bear fight in short-term

In March, we called on our readers to go short on Copper and shared the recommended profit booking plans, at the then current rate of $3.177 per pound with stop loss around $3.32 per pound and target of $2.78 per pound and advised to book 50 percent profit at the interim target around $2.88 per pound, https://www.econotimes.com/FxWirePro-Call-Review-Sell-Copper-targeting-278-per-pound-1160929

We later extended our bearish target for the copper to $2.55 per pound, https://www.econotimes.com/FxWirePro-Call-Review-Copper-might-decline-to-as-low-as-255-per-pound-1225885

We later in a review, extended our bearish target to as low as $1.75 per pound, https://www.econotimes.com/FxWirePro-Call-Review-Copper-to-remain-bearish-over-longer-horizon-targeting-17-per-pound-1401530

However, after reaching our anticipated target around $2.5 area, the price of copper has jumped sharply and currently trading at $2.79 per pound.

Trade idea:

Our latest calculations suggest that copper is trapped in bull/bear fight. The bulls are trying to push the price to as high as $2.92 per pound, whereas bears are aiming for a retest of $2.5 per pound area.