So copper seems to have bottomed twice around the 2.60 area and is trying again to push higher following its rapid demise mid 2018.
Technically we can see the chikou san is still below price 'N' periods back and the tenkan san is yet to cross the kijun san to signify the possible start of an uptrend. However it's going to have to push through well set resistance at around 2.74 before hitting further potential resistance at the bearish kumo above.
Fundamentally the elephant in the room is of course China and much depends on the on-going trade spat with Trump and the apparent slow down in growth. We still need to keep an eye on the strength of the US$ which seems to be treading water right now. All that said, potential supply constraints are likely to help support price and if two or more of the above conclude favourably, we may well be able to retest the 2018 highs of 3.30 and above.
[Do your own research - above not investment advice and for my own analysis, though constructive comments always welcome)
WAIT FOR NOW
Technically we can see the chikou san is still below price 'N' periods back and the tenkan san is yet to cross the kijun san to signify the possible start of an uptrend. However it's going to have to push through well set resistance at around 2.74 before hitting further potential resistance at the bearish kumo above.
Fundamentally the elephant in the room is of course China and much depends on the on-going trade spat with Trump and the apparent slow down in growth. We still need to keep an eye on the strength of the US$ which seems to be treading water right now. All that said, potential supply constraints are likely to help support price and if two or more of the above conclude favourably, we may well be able to retest the 2018 highs of 3.30 and above.
[Do your own research - above not investment advice and for my own analysis, though constructive comments always welcome)
WAIT FOR NOW