COPPER has been rising since the end of last year, when long-term downward trend has been broken, and reflects fundamentals. Another wave of strengthening of this “red metal” began in July, evoking prices to levels not seen for three years.
Currently, we are observing a correction from highs, which has been going on for almost a month, but in the last sessions the dynamics of the falls decreased significantly and the course stopped under the line of resistance, trapped in a triangle.
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The price creates a base for the next impulse, which takes the form of a inverse head with shoulders. Clear is the neck line, spread around the 3,000 level. As long as the price does not show direction you should observe the market and eventual exit from consolidation should provide an interesting investment opportunity with low risk.
