Facts:
Copper broke above the upper limit of the triangle formation
The pair broke above the horizontal resistance area at 9850
Recommendation:
Trade: Long position on Copper at market price
Target: 10005, 10135
Stop: 9800
Opinion: Copper has been trading in a long term upward trend. However the commodity has stuck in consolidation range in recent weeks. However taking a closer look at the H4 interval, the upward breakout may have already taken place. The pair broke above the upper limit of triangle formation, signaling a potential resumption of the upward trend. As long as the price sits above 9850 support, one should expect the price to continue the bullish move. We recommend going long Copper at market price with two targets: 10000 and 10135. We also recommend placing a stop loss order at 9800. Source: xStation5
