Copper Acting Out This Tuesday Morning
Post break down in commodities and equities Copper chart below.. notice how it held the bullish break out support/level for 3.80x
|5 min HG|
This post is an update to a post on copper from the 20th of Feb.
|Daily HG (copper)|
As you can see from the chart copper broke out of a wedge around the 9th of January and continued its bull run almost to 4 dollars before coming under pressure as China growth worries came into play.
Now that the .80 level i highlighted previously has been broken, momentum carried HG into the 3.949 level. Over the 4 dollar level would mean copper is at it’s highest price since mid october 2011.
This morning copper futures are up .7% on above average volume as stabilization in Europe continues and China still consumes.
|15 min HG|