Bullish AB=CD pattern near the Psychological level 2.0
Copper, just like the rest of the metals (see analysis for gold below), completed a bullish pattern - Bullish AB=CD pattern.
Unlike gold that rallied strongly following Friday's NFP numbers, Copper didn't make the breakout and still below its daily Fast SMA line.
If Copper will break above 2.08, it could lead to a strong rally that can reach up to 2.2-2.25 - First daily target for this bullish setup.
Stop loss should be with safety distance below 2.0.
Tomer, TheMarketZone.net
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Unlike gold that rallied strongly following Friday's NFP numbers, Copper didn't make the breakout and still below its daily Fast SMA line.
If Copper will break above 2.08, it could lead to a strong rally that can reach up to 2.2-2.25 - First daily target for this bullish setup.
Stop loss should be with safety distance below 2.0.
Tomer, TheMarketZone.net
Follow me on TradingView
Follow my blog - goo.gl/TWWN8C
Subscribe to my mailing lists - goo.gl/JfOLoR
