Copper: Interesting Technicals

Copper has managed to establish a bullish trend running for almost a year now. I have outlined on chart the key technical milestones that the price completed. Starting from the symmetrical triangle breakout near the lows, followed by the main falling trend line and finally the completion of a giant inverse head and shoulders.

However, we cant ignore that the price has landed at a major horizontal resistance level (shaded red area). Although the technicals have been bullish i would be cautious at this long term resistance.

A breakout above that resistance will confirm the ongoing positive bias and add further trust in this bull trend.

Trade safe
Best
Technician