long on copper: targets 2.62-2.69 for next weeks

٢٦ يوليو ٢٠١٥

the market is in oversold area and suggest a trend change angle from down trend to lateral or down-lateral trend, in fundamentals the cost of production in south-america and Australia of the biggest mines are near to the actual prices, this suggest a temporary close operations are in the table or an adaptation of the offer closing from those mines with cost over 2.5, for example, EL SALVADOR (CODELCO) or LOS BRONCES treatment plant (ANGLOAMERICAN).

OPEN LONG
entry point: 2.27-2.37
targets: 2.62-2.69